On June 16, China’s Ministry of Public Security announced that in 2024 its police had cracked 294,000 telecom fraud online cases, arresting hundreds of suspects by deploying advanced countermeasures and early warnings in a sweeping nationwide anti-fraud campaign.
The yearlong effort resulted in the arrest of numerous suspects, including over 570 key figures, such as ringleaders, financiers, and high-level operatives involved in widespread overseas scams networks.
Authorities said the overseas fraud operation focused on dismantling criminal syndicates that offered illegal services to overseas scam operations. These services included technical support, money laundering, online marketing, and even assistance in illegal border crossings.
The ministry credited China’s National Anti-Fraud Center for ramping up early warning systems and deploying technical countermeasures that helped limit the scale and impact of many scams such as money laundering fraud before they could do further damage.
The Effective Regulation of Transnational Securities Fraud in Global Market
In cooperation with multiple agencies, the anti-fraud center intercepted nearly 4.7 billion telecom fraud calls and 3.4 billion fake text messages throughout the year. The campaign also prevented $43.9 billion (315 billion Yuan) from suspicious financial transactions linked to fraud attempts.
Under Beijing’s fraud management in telecom drive, nationwide campaigns for public awareness were launched. Governments set up themed education schemes and special television programs to educate citizens on how to identify and deflect fraud. All these measures are directed to make the public more aware and improve the resistance of the population to fraud.
Authorities report that the drive is ongoing with relentless efforts to both track domestic transaction fraud prevention crime gangs and crush cross-border crime.
Chinese regulators vow to keep the pressure on in a three-way approach combining technology, interagency coordination, and public awareness to safeguard citizens and defend national financial security while telecom fraud continues to reinvent itself.
Inside Telecom provides you with an extensive list of content covering all aspects of the tech industry. Keep an eye on our Cybersecurity sections to stay informed and up-to-date with our daily articles.