Aug 19, 2018 China Update with CRI Comments Off on One billion yuan cross-border credit fraud case closed in Shenzhen
With the help of Malaysian police, police in Shenzhen cracked a cross-border credit card fraud case, arresting 23 suspects after a two-week-long investigation that started on July 30.
It’s estimated that over one billion yuan (around 150 million U.S. dollars) was skimmed, after more than one million pieces of credit card information was collected from 5,600 interception points.
A suspicious express mail sheet tipped off police and provided them with the ballpark location of the Malaysian hideout of the suspected scammers. Local police and police from Shenzhen joined forces to narrow down the location of the suspects. The raid that followed provided police in China with evidence that led to further arrests within 72 hours.
The case, dubbed the “VPAY project”, involved the work of more than 100 police officers.
This is the latest case of Internet-related cross-border bank card crime in China, and one of the most financially damaging, given the large amount of money involved and the substantial loss of personal information.
The 2018 Boao Forum for Asia (BFA) annual conference is scheduled for April 8 to 11 in Boao, Hainan Province. The forum will be themed "An Open and Innovative Asia for a World of Greater Prosperity."
— The Daily Mail - People's Daily