315 Concern: The fraud problem of digital RMB still needs attention

Mobile payment network news: The development of digital renminbi has become a trend. By the end of 2021, there have been more than 8.085 million digital RMB pilot scenarios, a total of 260 million personal wallets have been opened, and the transaction amount has reached 87.57 billion yuan.

The annual 315 is coming again, and the issue of “digital renminbi” fraud still needs to be revisited.

During the Two Sessions this year, some representatives suggested that the criminal law regulation of legal digital currency should be further strengthened. The legal relationship between digital renminbi and money laundering crimes needs to be regulated and guided by criminal law.

Several major digital renminbi fraud routines

In November 2021, the public security organ of Xinmi City, Henan Province destroyed the first criminal gang in the country that used digital renminbi for money laundering. And this is not an isolated case. For a period of time, fraud and money laundering about digital renminbi have emerged in an endless stream. Lawless elements have exploited the lack of understanding of digital renminbi by ordinary people and carried out fraudulent activities under the banner of “digital renminbi”. 

Common Routine: Fraud in the Name of “Fake”

Fake promotion: Leveraging digital currency to carry out pyramid schemes

Lawbreakers have established a so-called “Digital Currency DCEP Learning Group”, in which they publicize that digital currency is promoted by “commercial banks and private institutions at the same time.” The code can participate in the promotion. You can also promote it to friends and other businesses, and you can get “multi-layered benefits” if the promotion is successful.

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In addition, the criminals also misappropriated official materials from the digital renminbi pilot activities, and even fabricated press releases and virtual “signing a cooperation agreement with the central bank” meeting scene, etc., through various true and false information to confuse consumers’ audiovisuals and defraud consumers. Run away after funds.

Fake wealth management: carry out trading activities on asset platforms in the name of digital renminbi

Some institutions fraudulently used the name of the People’s Bank of China to name related digital products “DC/EP” or “DCEP” to trade on the digital asset trading platform.

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Some criminals have guessed that ordinary people are opportunistic to obtain high profits in a short period of time, and take advantage of the fact that many ordinary people do not know enough about digital renminbi to promote their “digital renminbi” project with high profits. 

Friendly reminder, the act of launching “DC/EP” or “DCEP” in the name of the People’s Bank of China to conduct transactions on the digital asset trading platform may involve fraud and pyramid schemes. The general public is requested to increase risk awareness, do not trust credulity, and prevent damage to interests .

Fake SMS: Fake Digital RMB Activity Link Scam

On February 12, 2021, the Suzhou Lingering Garden Police Station received an alarm from Mr. Fu, who claimed that he had been defrauded of 10,000 yuan by text messages. According to the police, on February 11, Mr. Fu saw the digital renminbi pilot issuance reservation information registration activity in the circle of friends, but did not participate at that time.

On the 12th, Mr. Fu’s mobile phone received a text message “Digital RMB Appointment Registration”, and a URL link was attached. Because Mr. Fu saw this event in the circle of friends the day before, he believed the content of the text message and clicked on the website. After entering the website, Mr. Fu filled in his bank card number, balance, password, identity information, mobile phone number and other personal information according to the prompt information.

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Afterwards, the system prompts Mr. to have a balance of 10,000 yuan in his card before he can experience digital renminbi. At that time, Mr. Fu, who believed it to be true, transferred 10,000 yuan to the registered bank card.

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Afterwards, Mr. Fu, who calmed down, felt that something was wrong, so he checked the balance of his bank card, but found that the 10,000 yuan in the card had been transferred.

Upgrade routine: use digital RMB accounts to “run points” and “money laundering”

In November 2021, a piece of news about digital renminbi fraud spread wildly on the Internet, and some people were easily transferred hundreds of thousands of dollars by scammers using digital renminbi.

Afterwards, the police in many places released news, saying that the criminals pretended to be the public security law or the loan credit issue, and asked the victim to fill in personal information, record a selfie video (fraudsters use face recognition), provide a verification code, and enable screen sharing to allow the other party to perform remote operations. .

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Subsequently, the fraudsters used the victim’s information to open a “digital renminbi” account, and after converting the victim’s funds into “digital renminbi” several times, transferred the “digital renminbi” to the target account.

In these digital renminbi fraud cases, users’ personal information protection and anti-fraud awareness are not enough. The deceived person not only easily believed the words of the criminals, but also revealed his face information, verification code and even “screen sharing”. After successfully defrauding the user’s bank card funds, criminals mistakenly believe that the new payment method digital renminbi has the characteristics of “anonymity”, so they rent digital renminbi accounts on the Internet for “running points”, and use these anonymous digital renminbi accounts to compare The funds were transferred and finally successfully cracked by the local public security organs.

After the fraud cases emerged, various digital RMB operating agencies tightened and reduced the digital RMB wallet quota as a whole, and set up their own quota management limits under the four types of wallet quota systems.

Whether it’s “financial pyramid selling”, “invitations for internal testing”, “fishing red envelopes winning SMS messages” or “pretending to be a public prosecutor”, criminals’ fraud methods can be said to be advancing with the times, and the general public is also “advancing with the times” to improve their anti-fraud awareness.

Digital RMB “anti-fraud” guide

Pay attention to the “Five Tips”

First, the digital renminbi is in the pilot stage. Except for the link in the official digital renminbi event winning notice, do not trust, download and install the so-called “digital renminbi app” from other sources.

Second, Digital RMB will not require you to provide authentication information such as registered account number, password, payment password, etc. outside of the Digital RMB App and Banking App. 

Third, the digital RMB is legal tender, which is equivalent to banknotes and coins. Whenever and wherever, it is fraudulent to refer to using digital renminbi to make profits, cash back, and participate in “digital renminbi exchange” transactions. 

Fourth, be vigilant against counterfeit applications and counterfeit bank information, do not visit or reply to counterfeit websites, emails or short messages on mobile phones, so as to avoid virus infection or information leakage. 

Fifth, no one, any institution or any organization has the right to know your password, and you can refuse any request for your digital RMB App login and transaction password. Beware of criminals posing as bank and public security organs to defraud passwords.

Beware of the “Four Traps”

Trap 1: Stock speculation, wealth management, promotion and business activities carried out in the name of digital RMB; 

Trap 2: Invite to join the digital renminbi discussion group with membership, shareholding, and benefits as bait; 

Trap 3: Fill in personal information on apps and websites outside of the official digital RMB activities;

Trap 4: Fake digital RMB apps provided by phones, websites, and mobile apps.

Remember the “six don’ts” 

  1. Do not download counterfeit apps or visit counterfeit websites;
  2. Do not easily join discussion groups in the name of digital renminbi;
  3. Do not fill in personal information lightly;
  4. Do not lend your mobile phone to others at will;
  5. Don’t trust the caller ID number easily;
  6. Don’t join the ICO MLM organization under the banner of digital renminbi.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/315-concern-the-fraud-problem-of-digital-rmb-still-needs-attention/
Coinyuppie is an open information publishing platform, all information provided is not related to the views and positions of coinyuppie, and does not constitute any investment and financial advice. Users are expected to carefully screen and prevent risks.

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