China's foreign exchange regulator, the State Administration of Foreign Exchange, on Monday named a number of companies and individuals that had committed fraud during foreign exchange deals, highlighting the nation's crackdown on such illegal practices.

The regulator named these companies in a statement on its website only three days after a previous announcement was made and listed a total of nine bank branches and outlets found to have been involved in fraudulent foreign exchange transactions.

Wrongdoings in these cases included fake contracts and false claims for the use of speculative capital. The companies named are from three provinces, including Liaoning Province and the provinces of Jiangsu and Shandong.

The statement also named a Chinese national surnamed Ma, who illegally received $8.29 million from overseas between January 2009 and April 2010 by using the bank accounts of 146 colleagues and relatives.

The regulator said last month that it would continue to stop inflows of speculative cash, or "hot money," into China and would crackdown on illegal foreign exchange activities.

By the end of October, China's foreign exchange regulator had uncovered 197 cases of illegal foreign exchange transactions worth $7.34 billion since February.

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