Money
China uncovers $7.3b fraudulent FX deals
(Agencies)
Updated: 2010-10-28 17:19
 |
Large Medium Small |
China has uncovered 197 fraudulent foreign exchange transactions worth $7.34 billion in a 8-month crackdown on "hot money" flows this year, the foreign exchange regulator said on Thursday.
The State Administration of Foreign Exchange has punished eight bank outlets involved in the foreign exchange dealings, it said in a statement on its website (www.safe.gov.cn).