China busts over 100 underground banks involving 80 billion yuan in illegal transactions

BEIJING, Dec. 13 (Xinhua) -- China has dismantled over 100 underground banks and traced illicit financial transactions totaling over 80 billion yuan (about 11.1 billion U.S. dollars) amid a sweeping crackdown initiated in May.

Police nationwide have taken down 263 criminal groups engaged in illegal business operations, human trafficking, fraud, illegal detention and other related crimes, the Ministry of Public S