Prosecutors target money laundering

The Supreme People's Procuratorate urged prosecutors across China to join the effort to fight money laundering that relies on offshore companies and underground banks, two important channels through which corrupt officials transfer large amounts of illegally obtained assets overseas.

The campaign started in mid-April and will last until the end of the year, according to a notice issued in April by the Supreme People's Court, the Supreme People's Procuratorate and three central government departments, including the Ministry of Public Security and the People's Bank of China.

Key targets of the campaign include illegal activities such as helping others make cross-border payments, conducting illegal transactions through underground banks and transferring illegal gains from bribery and embezzlement through offshore companies, the notice said.