City's finance cases increase nearly 30 percent
- Source: Global Times
- [11:07 March 11 2011]
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The city's courts handled 22,278 finance cases last year, up 29.6 percent year-on-year, according to a white book report released by the local judiciary Thursday.
From these cases, the report highlighted a growing "disaster zone" with credit fraud, saying that the number of such cases increased to 948 last year, up from 178 five years ago.
The report said that some 566 people, roughly half of the 976 people involved in credit fraud cases last year, were unemployed.
It also noted that more foreigners in the city were involved in such cases, citing a Malaysian man, who stole nearly 1.05 million yuan ($159,740) from ATMs in Shenzhen in Guangdong Province and Zhengzhou in Henan Province.
Insurance disputes were also on the rise with 2,203 cases last year, an increase of 26.25 percent from the previous year. The cases altogether amounted to some 261.7 million yuan ($39.8 million) in insurance fraud.
The courts handled 16,986 banking disputes last year, up 24.9 percent from the previous year. Some 328 local banks were involved in the disputes, down 23 percent from the previous year.
Of the city's finance cases last year, 8,380 were settled out of court, the report said.
Global Times