Source: Yiwu sourcing agent Author: Gary Date: 2010-11-07
Yiwu public security bureau and Yiwu China Commodities City Group jointly established a dynamic early warning information platform against economic crimes . It aims to take preemptive crackdown on such crimes and reduce losses, by collecting trade-related information to be analyzed and inspected by the public security agencies . Business operators are encouraged to offer related information via the Internet .
Zhu Jindi,leader of Yiwu Economic Crime Investigation Division (ECID), said,“An early warning information platform against economic crimes should be installed wherever economic
activities exist, in order to prevent the happening of such crimes .”
It was learned that,as of August 10 this year,96 pieces of early warning information had been published through this platform,which successfully prevented and settled 9 fraud cases,
and apprehended 8 suspects, recovering and saving losses up to RMB30 million incurred by 9 business operators .
Early warning platform fences off frauds As the world’s largest commodities wholesale market,Yiwu attracts over 13,000 foreign business persons from more than 100 countries and
regions,who stay and do business here . More than 65 percent of businesses in Yiwu are exportoriented；therefore,in this booming market,the number of economic crime cases is on the rise . Recent years witnessed a 10-percent increase annually . In 2009 alone,88 contract
frauds were reported,with money involved up to 150 million yuan.
Presently,this early warning platform i s shared by users from 13 provinces in China as well as 31 foreign countries and regions .
A lookat the early warning platform a day keeps lawbreakers away Business operators in Yiwu market used to be reluctant to share trade information because of fierce competition；
therefore frauds were hard to be spotted,and the ability to guard against financial risks was limited,a source with the early warning system told the reporter . A column of credit
rating is installed on the platform for reference,and a blacklist of high complaint rate and low credit will be published . Business operators can easily refer to “Trade Information
Referral” on the platform,when suspicious of ongoing business deal or of first time business partner . An Instant Message System is also installed,offering around-the-clock customer support .
Zhu of ECID said,when business operators in Yiwu market form a habit of sharing related information on a regular basis, this early warning platform will make lawbreakers nowhere
to hide .
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