Mainland China intensifies crackdown on illegal loan and deposit intermediaries

SighingCashier · 2026-04-04T18:50:14+00:00

The Ministry of Public Security and the State Administration of Financial Supervision and Administration jointly launched a new round of crackdowns on illegal intermediaries in the financial sector, focusing on illegal loan and deposit intermediaries, online lending platforms, and loan assistance organizations to rectify financial chaos.

SighingCashier

2026-04-04 18:50:14

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April 4, 2026

Mainland China intensifies crackdown on illegal deposit-and-loan and lending intermediaries

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According to Xinhua News Agency, on Thursday (the 2nd), the Economic Crime Investigation Bureau of the Ministry of Public Security and the Inspection Bureau of the National Financial Regulatory Administration held a video conference to jointly deploy the launch of a new round of clustered crackdowns on illegal and criminal “black-and-gray industries” in the financial sector, in order to further rectify disorder involving illegal financial intermediaries; it was said that the crackdown priorities must be highlighted and focus must be placed on illegal deposit-and-loan and lending intermediaries, illegal online lending platforms and loan-assistance institutions, illegal insurance agency and intermediary services, and improper “anti-debt-collection” intermediaries in credit card cases, among others. Financial-sector “black-and-gray industry …

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