SHANGHAI : The Shenzhen Stock Exchange has sought help from an intelligence technology firm to detect fraud and vet listings, said people with knowledge of the matter, as China adopts high-tech weaponry against crime and corruption in its bid to attract investors.The bourse has been testing EC Guard's tec
SHANGHAI : The Shenzhen Stock Exchange has sought help from an intelligence technology firm to detect fraud and vet listings, said people with knowledge of the matter, as China adopts high-tech weaponry against crime and corruption in its bid to attract investors.
The initiative is in line with thinking at Shanghai's bourse whose president in a parliamentary session this week proposed combating fraud with big data and artificial intelligence. The regulator itself was dragged into a high-profile corruption case in 2021 when a former official was found to have made illegal gains from investing in listing candidates.
The United States in 2019 placed EC Guard on its so-called entity list of companies that are subject to U.S. trade restrictions for reasons such as national security. EC Guard collects information from public sources, but has technology that can scour the deep web - websites invisible to conventional search engines - and dark web - encrypted cyberspace ripe for illicit activity - one of the people said.
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