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The Supreme People’s Procuratorate tighten cracking down financial cases

On June 25, Beijing-the Supreme People’s Procuratorate held a press conference to publicize the progress of “three major challenges”. Wan Chun, member of the Supreme People’s Procuratorate’s Procuratorial Committee and director of the Legal Policy Research Office, said at the meeting that it is necessary to strengthen crack down of internet financial cases, including securities, futures, banking and insurance.
Wan Chun said that in recent years, the procuratorial agency has taken the fight against financial crimes and the prevention of financial risks as an important part of the procuratorial work. The measures taken are:

1. Strengthen handling of financial cases. Investigate financial crimes in key areas such as internet finance, securities and futures, and bank insurance, and strengthen the study of new difficult cases and cross-regional stakeholder-type cases. And guidance, timely formulation of judicial interpretations and regulatory documents.

2. Promote professionalization. Through the establishment of specialized agencies and case handling groups to handle criminal, civil, and administrative cases related to finance. The three levels of procuratorial agencies in Beijing and Shanghai have established special departments to train financial procuratorial specialists.

3. Strengthen the cooperation between the financial supervision department and the public security departments in case-handling, establish and improve the mechanism for intervention and evidence collection, actively seek professional support from the financial supervision department for the prosecution, establish a regular communication mechanism, and jointly respond to the new situation and new problems triggered by financial risks.

4. Strengthen the research and analysis of typical financial cases. Typical cases are used as reference for guiding local legal implementations. Financial supervision authorities are advised on the prevention and control of financial risks.

In addition, in order to improve the working mechanism and form a joint force for punishment, crime prevention and criminal investigation, the Supreme People’s Procuratorate has established a quick reaction mechanism for handling major financially sensitive cases.


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