March 27, 2015

Sky Net

Reuters The Chinese government has unveiled an initiative called "Sky Net" to better coordinate its fight against suspected corrupt officials who have fled overseas, and to recover their dirty assets, the latest step in its fight against graft. by Ben Blanchard

'The group will be comprised of officials from the Communist Party's corruption watchdog the Central Commission for Discipline Inspection, the Public Security Ministry, the Supreme Prosecutor, the party's Organisation Department and the central People's Bank of China.

'It will kick off operations next month, the party's graft watchdog said in a statement issued late on Thursday, aiming to "focus strength" on "seizing corrupt elements ... striking underground banks, getting back assets and convincing those who have fled abroad to return".

'The Ministry of Public Security will concentrate on officials who have fled abroad because they are already leading the similar "Fox Hunt" initiative, the statement said.

'The central bank will go after offshore companies and underground banks that transfer assets abroad, it said.

'The Organisation Department, a powerful and secretive body that oversees personnel decisions, will watch trips by officials abroad.'

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