News Brief
International
Cross-Border Credit Fraud
CFP
Guangzhou police unmasked a huge cross-border criminal operation involving online and cell phone-based credit card fraud in early October.
Based on a lead from an individual case involving a staged call from the victim’s “bank” which resulted in the theft of 150,000 yuan (US$23,500), police have traced a criminal gang headquartered on the Chinese mainland and Taiwan operating in 24 Chinese provinces as well as in Thailand, the Philippines, Vietnam and Indonesia.
Altogether 24 local criminal cells were busted during the crackdown, with 174 suspects arrested. The gang had acquired details of 2,000 personal bank accounts and PIN numbers via illegal phone hacking and online. In Guangdong Province alone, the gang had successfully stolen 120 million yuan (US$17.6m).
Police told State media that the gang was equipped with professional knowledge of banking and telecommunications, using software to fake calls from banks and other financial institutions which would appear to have come from overseas, allowing them to avoid detection.
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Badeling Pass | Beijing
Sep 2011 | Submitted by Brian Snelson
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