China's State Administration of Foreign Exchange (SAFE) and its police forces have vowed to clamp down on 'underground banks' that are offering investors forex services.

A statement to that effect has appeared on SAFE's website, according to the newswire Xinhua. The impetus for it seems to have been a very recent meeting between SAFE representatives and the Ministry of Public Security. Their focus was on 'outbound investment activities.'

In recent months Meng Qinfeng, a senior public security official, has been trying to persuade police to pay attention to the problem. This echoes a campaign that China's central bank commenced in April with the help of the aforementioned Ministry of Public Security.