China has been using prime-time television to expose bankers who have been involved in bribery, kickbacks, corruption and other financial crimes. The move has been part of a systematic investigation into 25 entities which has revealed the issues within China’s financial system.
So far, more than 20 officials have been punished as a result of the investigation which is targeting financial crimes both large and small.
Corporate governance needs to be bought into check in the financial services industry, otherwise the country risks a deteriorating situation and losses of billions of yuan.
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