How corrupt officials take dirty money out of China

The FT reports:

Corrupt Chinese officials smuggled an estimated $123.6 billion of ill-gotten gains out of the country over a 15-year period, according to a report released by China’s central bank… It provided a fascinating insight into the mechanisms behind that corruption by identifying eight ways that officials funneled their illicit funds offshore:

• Overseas casinos were commonly used to launder money in collusion with gaming operators
• Many officials carried large amounts of cash across the border
• or disguised money transfers to relatives, mistresses and other confidantes abroad.
• More sophisticated cadres relied on fake trade documents and overseas investments.
• Others used credit cards to buy large amounts of luxury goods overseas and then used illicit funds to pay back the fees in China.