Perspective
26 September 2014
China’s SAFE regulator specifies volume of fraudulent trade financing deals
Region:
Asia-Pacific
China’s State Administration of Foreign Exchange (SAFE) believes that it has uncovered a total of $10 billion worth of fraudulent trade finance and commodity transactions as part of its continuing investigation into corporate activity. This investigation includes many commodity irregularities in the Chinese ports of Qingdao Penglai.
