Transfer curb

China's authorities will initiate a nationwide campaign to prevent corrupt officials from illegally transferring their ill-gotten assets overseas through offshore companies and underground banks, the CPC Central Commission for Discipline Inspection said on Thursday.

The authorities include the CCDI, the Ministry of Public Security, the Supreme People's Procuratorate, the Supreme People's Court and the State Administration of Foreign Exchange.

In recent years, the US, Canada and other Western countries have become popular destinations for fleeing corrupt officials who transfer thousands of millions of yuan through money laundering, said a senior official at the Ministry of Public Security who declined to reveal his name.