Money

Illegal forex deals found

(Xinhua)
Updated: 2010-11-06 15:22

BEIJING - China's foreign exchange regulator on Friday named a number of companies and individuals who had made illegal foreign exchange deals, highlighting the country's crackdown on such unlawful activities.

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The State Administration of Foreign Exchange has named 10 companies in a statement on its website only four days after its previous list was made public.

Earlier, a statement was posted on the website on Oct 28, listing nine bank branches and outlets involved in fraudulent foreign exchange transactions.

Wrongdoings in these cases mainly included unlicensed foreign currency businesses.

The regulator said businesses should follow foreign exchange regulations strictly, adding that it would continue to work with police to crack down on illegal foreign exchange operations.