Core Viewpoint - The article discusses a significant corruption case involving a former executive at Kuaishou, highlighting the systemic issues of corruption within the internet industry, particularly in the context of rapid expansion and inadequate internal controls [2][11]. Group 1: Corruption Case Details - The case involves a former Kuaishou executive, Feng Dian, who embezzled 140 million yuan (approximately 20 million USD) through a scheme that exploited loopholes in subsidy policies [3][4]. - Feng Dian collaborated with external suppliers to create false applications for subsidies, leading to the illegal appropriation of funds meant for service providers [3][4]. - The embezzled funds were laundered through multiple shell companies and converted into cryptocurrencies to obscure their origin [4][10]. Group 2: Broader Industry Trends - The article notes a rising trend of corruption within the internet sector, with a significant number of cases reported in Haidian District, where 943 corruption cases involving 1,490 individuals were recorded, accounting for 75.26% of total cases [6][8]. - Corruption is prevalent among operational roles, where employees have significant decision-making power, leading to opportunities for misconduct [6][7]. - The article highlights that corruption is not limited to high-level executives; a majority of cases involve lower-level employees, reflecting a shift towards a more decentralized power structure in internet companies [8][10]. Group 3: Company Responses and Industry Implications - Internet companies are increasing their anti-corruption efforts, with enhanced internal controls and digital risk management systems being implemented [10][11]. - Some companies publicly disclose corruption cases to deter misconduct and signal a commitment to transparency, while Kuaishou opted for a low-profile response to avoid potential market backlash [11]. - The case serves as a reminder of the vulnerabilities in corporate governance during periods of rapid growth, emphasizing the need for robust internal oversight mechanisms to prevent corruption [11].