Caixin
Aug 12, 2022 08:38 PM
FINANCE

More Officials Probed after Rural Banking Scandal in Henan

Rural banks in Henan entered the spotlight since spring after several village banks in the province suspended online banking services
Rural banks in Henan entered the spotlight since spring after several village banks in the province suspended online banking services

An anti-graft storm continues rattling the banking sector in central China’s Henan Province after a multibillion-dollar scam swindled thousands of depositors across the country.

Two more banking regulators in Henan have been placed under investigation, joining a growing list of fallen officials as investigators zero in on the province’s rural banking system. Eight officials in Henan’s banking regulatory system have now been brought under investigation since March.

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