New ini­tia­tive on re­cov­er­ing fugi­tives’ as­sets

China Daily (Canada) - - NEWS CAPSULE -

Po­lice will not only bring fugi­tives back to China to face jus­tice, but will also em­pha­size re­cov­er­ing their il­le­gally gained as­sets, the Min­istry of Pub­lic Se­cu­rity said.

The re­cov­ery of as­sets ac­quired il­le­gally in China will be a new anti-cor­rup­tion ini­tia­tive in the com­ing months, said a se­nior min­istry of­fi­cial who re­quested anonymity.

Pub­lic se­cu­rity au­thor­i­ties will work closely with Peo­ple’s Bank of China, par­tic­u­larly the di­vi­sion that cracks down on money laun­der­ing, the of­fi­cial said.

Au­thor­i­ties also will en­hance com­mu­ni­ca­tion and con­duct joint in­ves­ti­ga­tions with other coun­tries on a case-by-case ba­sis in an at­tempt to repa­tri­ate cor­rupt of­fi­cials so they can stand trial. They also will share in­tel­li­gence with their coun­ter­parts in those coun­tries to lo­cate, freeze and re­cover the ill-got­ten as­sets, he said last week.

A large num­ber of cor­rupt of­fi­cials have trans­ferred bil­lions of yuan in il­le­gal funds to their for­eign ac­counts, ei­ther through money laun­der­ing or un­der­ground banks, the min­istry said.

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