Preventing illicit assets being moved overseas a top priority

China will beef up efforts to prevent the proceeds of corruption being sent overseas and to confiscate the ill-gotten funds of corrupt fugitives who have fled the country, according to the Central Commission for Discipline Inspection of the Communist Party of China and the National Commission of Supervision.

Since the end of January, under the leadership of the Central Anti-Corruption Coordination Group, the country has initiated a new round of Skynet surveillance action to target corrupt fugitives and confiscate their illicit assets.

It will see the Ministry of Public Security focus on investigating money-laundering crimes, working closely with the People's Bank of China - the central bank - to monitor suspicious transactions in officials' bank accounts and prevent them from using offshore companies and underground banks to transfer money abroad.