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Even Before Launch of Digital Yuan in China, Fraudsters are Beginning to Probe for Weaknesses

November 16, 2021
Source: pymnts.com pymnts.com
News Snapshot:
In China, the digital yuan is getting ever closer to a widespread, national rollout. And, so, as might logically follow … the fraudsters are testing things out a bit, looking for vulnerabilities. Ledger Insights , in turn citing Chinese language site The 21st Century Herald, reported that while the central bank digital currency (CBDC) is in pilot phase, there have been some (isolated) incidences of fraud. Generally speaking, noted the site, thus far the fraudsters’ efforts are “similar” to scams that have typically targeted debit and credit cards. Among the examples detailed: A target was told by fraudsters that an...
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