China has imposed a fine of approximately $1.5 million on Mintz Group, an American corporate due diligence firm, for allegedly conducting unapproved statistical work in the country. The fine is a result of a crackdown on consulting firms by Chinese authorities in the name of national security. Mintz Group’s Beijing office was closed in March, and five of its local employees were detained. The authorities accused Mintz of carrying out “foreign-related statistical investigations” without proper approvals. The firm was fined 10.69 million yuan ($1.49 million) and ordered to cease such investigations in China. The regulatory scrutiny over foreign access to sensitive information is occurring amidst growing tensions with the United States.
By FCCT Editorial Team