10b yuan raised illegally this year

More than 10 billion yuan ($1.46 billion) were raised illegally this year, and only one-fifth of the amount was seized, the Ministry of Public Security said yesterday.

Illegal fund-raising remains a threat to China's financial security, Zhang Tao, deputy director-general of the ministry's Economic Crime Investigation Department, said during an online chat with the public on the People's Daily website.

In the first 11 months of the year, 1,590 illegal fund-raising cases were reported to the police, out of which 1,416 were probed, he said.