Beijing police arrest over 300 suspects in financial crime crackdown

Beijing police have cracked down on over 40 cases of loan fraud, illegal business operations, and credit card fraud since the beginning of 2025, resulting in the apprehension of more than 300 suspects, as reported by the city's public security bureau on Friday.

Among those arrested, 187 individuals allegedly used schemes like poverty alleviation loans to post false advertisements online, fraudulently obtaining bank loans, Li Maolin, an official from the bureau's economic investigation department, specified at a news conference.

Additionally, 11 individuals were discovered to have inserted malicious programs into fake smartphone apps to steal information from credit card users, and then allegedly used artificial intelligence to create synthetic faces and impersonate cardholders to make unauthorized payments, Li said.

"Beijing police are not only intensifying the crackdown on financial offenses but have also formed a team with the city's financial regulatory bureau to regularly study criminal trends and analyze new methods used by offenders," he noted.

Meanwhile, police officers have been required to visit banks and insurance companies regularly to report system vulnerabilities and share information on emerging criminal tactics to help financial institutions optimize their management practices and become more resilient against fraud, he added.

Wang Song, an official specializing in tax-related cases, also revealed that since last year, public security organs across the city have dismantled 16 false invoicing rings and captured 73 suspects. Furthermore, more than 900 shell companies were penalized, with 118 suspects placed under criminal detention.

Wang urged companies to enhance their compliance awareness, advising business owners and operators to improve their financial management systems and enforce strict internal oversight procedures for invoice review and approval. "This vigilance will play a crucial role in preventing exploitation by criminals and avoiding unnecessary economic losses," he added.

Following the news conference, the Beijing Public Security Bureau officially launched a month-long campaign to combat and prevent financial crimes at the national information technology innovation park in the Beijing Economic-Technological Development Area in Yizhuang.

The bureau, in collaboration with administrative departments including financial regulators, the People's Bank of China, tax authorities, market regulators, as well as banks and insurance companies, set up a legal consultation zone at the park, providing face-to-face legal advice and public education services to more than 3,000 visitors.

On Friday, Beijing police also held crime prevention awareness in shops, enterprises, banks, hospitals, schools and residential communities, and produced short videos to educate the public on how to avoid falling victim to financial crimes. These knowledge and videos have been playing on a loop on public platforms such as office building screens, buses and subways, offering risk alerts in a manner that is accessible and easy for the public to understand.