China's National Financial Regulatory Administration, together with the Ministry of Public Security, issued the Provisions on Strengthening the Transfer of Suspected Criminal Cases in the Banking and Insurance Sectors, establishing a standardised, end-to-end framework for referring suspected criminal cases and strengthening coordination between financial regulation and criminal enforcement. The provisions take effect immediately. The framework comprises six chapters and 36 articles covering overall requirements, case referral and legal supervision, standards for identifying and transferring evidence, cooperation and督办 for major cases, and information sharing and reporting. Key elements include clearer linkage between administrative and criminal penalties, a focus on joint督办 of major and serious cases in priority areas, requirements for public security authorities to provide necessary support to unblock administrative penalty processes in criminal-related cases, and the establishment of regular liaison and case-information sharing arrangements alongside further digitisation of the referral process.
China Banking and Insurance Regulatory Commission 2025-03-28
China's National Financial Regulatory Administration and Ministry of Public Security issue rules for referring suspected banking and insurance crimes to public security authorities
China's National Financial Regulatory Administration and the Ministry of Public Security have issued new provisions to enhance the transfer of suspected criminal cases in banking and insurance. The framework standardizes case referrals and strengthens coordination between financial regulation and criminal enforcement, with immediate effect. Key elements include clearer links between administrative and criminal penalties, joint督办 of major cases, and enhanced information sharing and digitization.