Tag: foreign exchange

China Escalates Crackdown On Corrupt Banking: 370 People Arrested In Illegal Foreign-Exchanges Totaling $64 Billion.

HONG KONG, Nov. 20 (UPI) — China has arrested suspects for illegal foreign-exchange transactions totaling $64 billion – in Beijing’s campaign against widespread corruption. The crackdown took place in eastern Zhejiang province, where more than , face lawsuits or some other penalty, Bloomberg reported Thursday. Underground banking and money-laundering activities totaled $125.4 billion since April,…