China cracked 5,94,000 cases of telecom, internet fraud in 15 months through July

Beijing: China is in the midst of a massive menace of online scammers who lure people into investing in seemingly legitimate products which apparently results in victims losing their identity and life savings, media reports said.

In just 15 months through July 2022, China tackled 594,000 cases of telecom and internet fraud, reported Nikkei Asia citing the Ministry of Public Security. Moreover, the report said that in 2021, authorities stopped 1.5 million people from transferring 329.1 billion yuan (USD 47.5 billion) to scammers.