Lab set to fight high-tech economic crimes

Shanghai will establish China's first lab to track fraudulent bank cards and fight financial crime, Shanghai police said on Thursday.

A dedicated team will be established to crack down financial crimes.

About 8,000 financial crime cases have been solved in the past three years in Shanghai, it said.

High-tech devices are frequently used to hack accounts and forge bank cards, it added.

Cases involving credit cards and money laundering are typical among cross-border financial crimes, the police said.

"An increasing number of financial services are being offered in Shanghai and more tools for financial services communications are developed in the city," said Dai Xinfu, deputy head of the economic crime investigation department of Shanghai's Public Security Bureau. "Crimes that try to take advantage of the intensive financial activities are being discovered widely in Shanghai."

Shanghai police will boost its investigation of crimes in securities, futures, insurance and banking services to ensure safe transactions and the stable order of the financial market, it said.