China’s Financial Tsunami Hits: 670 Banks Vanish Overnight, People Locked Out Of Their Own Money

Aug 23, 2026 - 09:59
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A woman in Shenzhen was taken to a police station after trying to transfer 200,000 yuan at a bank counter. She said bank security officers questioned her about where the money came from and why she wanted to send it. Angry, she accused the bank of making things unnecessarily difficult for customers.

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