Banking irregularities up 31%

The China Banking Regulatory Commission said it unearthed irregularities involving US$95.1 billion at mainland banks in 2005, a 31% increase from 2004, the Wall Street Journal reported. The misused funds were spread over about 1,200 financial institutions. The banking watchdog didn't give a breakdown of the violations, but said its audits had uncovered 1,272 criminal cases and helped to recoup about US$1.82 million. It said it had disciplined 6,826 staff at the offending institutions, including 325 senior managers.