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Chinese authorities swoop on 380 suspected crypto and wire fraud groups in 1H 2021

July 30, 2021
Source: forkast.news forkast.news
News Snapshot:
According to data from China’s National Anti-Fraud Center, authorities identified and took action against more than 380 criminal groups allegedly engaged in shady activities such as running misleading promotions and virtual currency money-laundering in the first half of this year. Anti-Fraud Center officer Zhang Shuo said wire fraud had become the fastest-growing crime. From January to May, 114,000 cases were solved nationwide, and more than 14,000 criminal gangs faced punishment. Crypto-related scams and other fraud using high-end technologies were a key focus, according to Beijing Business Today. Crypto-scams are a worldwide problem. According to the Cryptocurrency Scam Report , published...
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Tags: advanced persistent threat | APT | bank | Bank of China | Beijing | bitcoin | blockchain | Business | China | Chinese | community | crypto | currency | E-CNY | fintech | fraud | hacker | Hangzhou | Internet | police | Renminbi | technology | Xinhua | Yuan | Zhejiang

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