Over 380 Online Lending Platforms under Investigation by Chinese Authorities, 62 Suspects Extradited

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Chinese authorities have placed over 380 online lending platforms under investigation for criminal financial activities.

The Ministry of Public Security announced on the evening of 17 February that it had launched investigations into over 380 online lending platforms for suspected illegal fundraising.

According to a report from China Youth Daily public security bureaus in China have confiscated or frozen approximately 10 billion yuan in funds in relation to these investigations.

The Ministry of Public Security said that the apprehension of suspects involved with illegal online lending activities was one of its chief missions at present, and that it had successfully extradited 62 suspects from 16 countries including Thailand and Cambodia.

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