The Ministry of Public Security and the China Banking and Insurance Regulatory Commission jointly deploy a new round of crackdown on illegal crimes involving "black and gray" industries in the financial sector.

The Ministry of Public Security’s Economic Crime Investigation Bureau reported on April 3 that on April 2, the Ministry of Public Security’s Economic Crime Investigation Bureau and the Inspection Bureau of the National Financial Regulatory Administration held a video conference to jointly deploy the launch of a new round of crackdowns on clusters of illegal and criminal activities involving “black-and-gray industries” in the financial sector. The efforts aim to further address chaos caused by illegal financial intermediaries, firmly safeguard financial regulatory order, effectively protect the legitimate rights and interests of financial consumers, and strive to support the high-quality development of finance with a high level of security.

The meeting pointed out that the cluster crackdown work must be coordinated with higher standards. On the one hand, strong criminal crackdowns should curb the trend of high incidence of crime. On the other hand, efforts should be made to improve financial services, and the “soil” for the cultivation of financial “black-and-gray industries” should be eliminated to the greatest extent possible. On the basis of the previous round of cluster crackdowns, advantages of the new policing operation model of “professional+mechanism+big data” should be further leveraged to promote work to an upgraded level. The approach should be problem-oriented, practice-oriented, grassroots-oriented, and outcome-oriented. We must focus on what crimes stand out for crackdown, anchor on “major disaster zones” for financial “black-and-gray industries,” and fully work to “trace the source, destroy the networks, and crack the cases.”

The meeting emphasized that efforts should be made to improve the quality and effectiveness of the crackdowns. Crime chains and criminal groups should be thoroughly investigated, crackdown strategies should be formulated by category, and the covert hands that actually control the activities from behind should be targeted for extended crackdowns, ensuring that the cluster crackdowns achieve new breakthroughs. Crackdown priorities should be highlighted by focusing on illegal deposit-and-loan intermediaries, illegal online lending platforms and loan-assistance institutions, illegal insurance agency intermediaries, and “anti-collection” intermediaries conducting improper debt collection related to credit cards. New strategies, new approaches, and new methods for crackdown and governance should be explored and innovated. Departmental, police-unit, and regional collaboration should be strengthened, further improving long-term mechanisms such as clue reporting, to ensure that efforts go deep, penetrate thoroughly, and cover comprehensively. Strictly comply with the law in handling cases. Adhere to “crackdown to promote governance” and “crackdown to promote prevention,” increase the intensity of prevention and publicity, and enhance the public’s awareness of prevention.

According to information available, from June to November 2025, the Ministry of Public Security, together with the National Financial Regulatory Administration, for the first time, deployed and carried out crackdowns on clusters of illegal and criminal activities involving “black-and-gray industries” in the financial sector. Public security economic investigation departments filed and investigated and handled more than 1,500 cases involving crimes related to “black-and-gray industries” in the financial sector. More than 200 professional criminal gangs were dismantled, and the total amount involved in the cases cumulatively was nearly 30 billion yuan.

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Editor: Liu Wanli SF014