u.today
According to an article shared by Chinese crypto journalist Colin Wu, recently over 380 criminal groups were detained by the police guided by the Ministry of Industry and Information Technology and the National Anti-Fraud Center in China and Beijing in particular this year.
The article says that this massive fraud prevention was sponsored by Alipay owned by the Alibaba e-commerce giant.
The Ministry of Public Security of China pointed out that more than 380 teams were arrested this year for virtual currency money laundering, as well as for telecommunications fraud diversion and technology development. https://t.co/Kynl84dCLe
— Wu Blockchain (@WuBlockchain) July 23, 2021
Telecom network fraud becomes fastest growing crime area
Citing Beijing Business News edition issued on July 23, today, head of the National Anti-Fraud Center, Criminal Investigation Bureau of the Ministry of Public Security, and Director of the Guidance Office for Combating New Cybercrimes Zhang Shuo delivered a speech at the meeting, sharing the statistics of rising amount of cybercrime, money laundering made using cryptocurrencies, telecommunication frauds, etc.
He stated that telecom network frauds have become the fastest spreading type of scams.
Cryptocurrency money launderers busted
Within the five months (from January to May 2021), 114,000 cases of telecom network fraud were cracked down, over 14,000 gangs were destroyed in various corners of the country.
In May, there was a 14 percent drop in the criminal activity with 84,600 telecom network frauds registered around China.
Since the start of the year, the police force has been tackling these cases, shut down over 6,500 fraud dens located in private homes and cracked 881 cases that had made over 1 million RMB.
Over 2,400 suspects were detained by the police. Around 380 gangs focused on tech platforms and crypto money laundering were destroyed.
Besides, over 3.73 million fraudulent sim-cards and over 560,000 fake bank cards were confiscated.