Liu Mingkang, Chairman of CBRC attended the conference and made a speech. Besides over 70 leaders and representatives of major banks in China, the conference also invited speakers from overseas, including Sir Fred Goodwin, Group Chief Executive of the Royal Bank of Scotland, Mervyn Davies, CEO of the Standard Chartered Group.

The conference aims at introducing practices and experience of foreign banks and businesses to tackle banking fraud so as to promote anti-fraud operation in China¡¯s banking industry.

Chariman Liu Mingkang pointed out in his speech that China¡¯s banking industry is experiencing historic reforms, which have made unprecedented achievements in scale, speed and effects. Fraud, corruption and crimes still exist in the financial sector and will cast great damage to China¡¯s stable economic growth and harmony of the society.

Liu introduced that, ever since its founding, CBRC has been devoting itself in prevention and punishment of financial fraud and financial crimes, and has been actively participating perfection and amending of legislation against fraud and financial crimes. The CBRC has initiated a special campaign in dealing with such cases. It has urged establishment of cooperation and links among systems in ten different areas in banking institutions, and great achievements have been made in prevention and dealing of such cases. From January to September this year, 67 fraud cases were discovered in banking institutions, 30 less than that of last year, including 37 cases of over one million yuan, 26 less that that of last year.