telecom fraud

CCTV

2026-10-05 03:57:00

CCTV to Air Three-Part Documentary on the Crackdown on Myanmar Border Telecom Fraud Starting Tonight

CCTV will begin airing a three-part documentary, "Record of the Elimination of Telecom Fraud in Northern Myanmar," at 18:00 each evening from Oct. 5 to Oct. 7 on CCTV-1, according to CCTV News. Each episode will also be rebroadcast at 21:30 on CCTV News Channel. Jointly produced by China’s Ministry of Public Security and China Media Group, the documentary follows the process in which public security authorities, together with relevant departments, dismantled criminal groups including the so-called "Four Major Families" in northern Myanmar. The first episode, "Sword Drawn," focuses on the telecom fraud ecosystem in northern Myanmar. The second, "Sweeping Out the Den," centers on cross-border manhunts. The third, "Building a Joint Dragnet," covers the China-Myanmar operation in Muse and a joint effort by China, Myanmar, and Thailand to clear scam hubs in Myawaddy. It also introduces an international anti-telecom and cyber fraud alliance initiated by China with participation from 46 countries.

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Fideuram

2026-10-02 04:39:59

Italy’s Fideuram loses at least €36 million to AI voice scam converted into crypto

Italian private banking giant Fideuram was hit by an AI-enabled voice fraud in February 2026, with at least €36 million ultimately converted into cryptocurrency after a series of overseas transfers. According to Techub News, former chairman Paolo Molesini received a WhatsApp message impersonating the CEO of Intesa Sanpaolo Group and then a phone call using an AI-generated fake lawyer’s voice. He then instructed the finance department to send funds to accounts in mainland China, Hong Kong and other locations, with the initial transfers totaling about €95 million. Fideuram later recovered around €40 million, while Portuguese authorities separately froze another €13 million. Even so, investigators said at least €36 million was still moved through multiple cross-border transfers and exchanged into crypto. Authorities are now tracing the funds through international judicial assistance. The report also said Molesini is not under investigation and resigned as chairman on March 12 for 「personal reasons」.

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Beijing polic

2026-09-27 01:55:57

Beijing police intercept cross-border telecom fraud case, freeze 780,000 yuan

Police in Beijing’s Shijingshan district recently intercepted a new type of cross-border telecom fraud case, freezing 780,000 yuan in funds tied to the scheme and returning the money to the victim, according to ChainCatcher. The case involved a 53-year-old man surnamed Liu, who was staying overseas while accompanying a student, when he received a scam call from abroad. The caller posed as Chinese police and fabricated accusations including money laundering, pressuring him to urgently ask family members in China to send money. Investigators said the funds were later transferred into the accounts of two other Chinese students overseas. Police found that all three were victims of the same fraud ring, in a pattern described as "one case, multiple victims," where victims were turned into money-laundering tools for one another. In some instances, scammers first moved funds into victims’ accounts and then coerced them into converting the money into U coins to help transfer it onward. Police said patient persuasion helped "wake up" the victim and prevented larger losses.

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ChainCatcher

2026-09-10 08:24:42

Criminal groups use "free credit card repayment" lure to launder funds into crypto

ChainCatcher reported that some criminal groups are using a "free credit card repayment" pitch to recruit members of the public to hand over their credit cards and personal identity information. The report said the groups then launder illicit money tied to offshore gambling and telecom fraud by fabricating consumption records and other transactions. After that, they contact crypto dealers to exchange the funds into virtual currencies and move the assets overseas. The report did not disclose additional details on the scale of the activity or the specific cryptocurrencies involved.

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Hong Kong

2026-08-21 11:37:59

Hong Kong court upholds 56-month sentence in trafficking case after crypto fund trail traced

Hong Kong’s Court of Appeal has rejected a bid by Ma Zhihao to reduce his sentence, leaving in place a 56-month prison term in a telecom fraud and human trafficking case. Investigators traced criminal proceeds through blockchain and cryptocurrency transaction records, which the court treated as key evidence in showing how ransom and illicit funds moved. According to the case details cited in the report, a victim’s family paid about 9,527 USDT to a wallet designated by the criminals. Blockchain tracing showed that 8,127 USDT from that payment flowed into an exchange account registered under Ma Zhihao’s real name and Hong Kong ID. The funds were then converted into about HK$63,000 and transferred to his personal HSBC bank account. The appellate court said the sentence could have been much heavier if not for the District Court’s seven-year statutory cap. The report was cited by Odaily, referencing Caixin.

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Malaysia

2026-08-13 22:27:18

Malaysian Police Bust Two Telecom Fraud Dens in Forest City Involving Crypto Workers

Malaysian police have shut down two telecom fraud dens at Forest City (Country Garden Forest City) in Johor, arresting multiple suspects in an operation that involved a fraud ring including Chinese citizens, police said. According to Techub News, citing Wu Blockchain, Southeast Asian fraud and kidnapping networks may be shifting toward Malaysia, which hosts a large number of cryptocurrency exchange employees. Police added that such criminal organizations are now targeting areas where crypto industry workers gather. The case is still under investigation, and the exact amount involved and the number of victims have not been disclosed.

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Policy Regula

2026-07-27 07:54:34

Cambodian Prince Group founder Chen Zhi formally arrested six months after extradition to China

Chen Zhi, founder of Cambodia’s Prince Group, has been formally arrested six months after being brought back to China, according to an Odaily report citing Caixin. The report said the arrest was officially approved on July 6. Compared with the allegations cited at the time of his return, the charge of concealing or disguising criminal proceeds was removed, while copyright infringement and intentional injury were added. The report also described Chen as the builder of a global telecom fraud network centered on the “Jinbei Park” complex over several years. It said his operation generated massive wealth, and that Bitcoin seized by the United States alone was worth $15 billion, or about 103.5 billion yuan. China’s Ministry of Public Security said in a notice released in January this year that the criminal group linked to Chen was suspected of operating casinos, fraud, illegal business operations, and concealing or disguising criminal proceeds, among other offenses.

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China regulat

2026-07-24 07:10:15

China's Supreme Court Targets Crypto Money Laundering, Vows Harsher Property Penalties

China's Supreme Court on Feb 26 vowed to crack down on crypto and underground bank money laundering linked to telecom fraud, with stricter property penalties. 3,032 were prosecuted in 2024 for using crypto to transfer illicit funds.

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