Industry regulator unveils prosecutions involving 164 people and 26m yuan
China's banking regulator unveiled its latest anti-corruption campaign yesterday by releasing figures detailing the extent of commercial bribery cases prosecuted last year.
The courts prosecuted just 113 cases of commercial bribery in the banking industry, involving 164 people and a total sum of 26 million yuan, according to the China Banking Regulatory Commission.
Most of the cases occurred at state-owned commercial banks and rural finance cooperatives.
'That number is certainly on the low side compared to the likely true scale of bribery,' Moody's senior banking analyst May Yan said.
'Risk management and internal control systems have been improving in China, especially at the listed banks, but it is fair to say most banks are at a very early stage in terms of strengthening these systems.'