“Indian Government Cracks Down on Chinese-Operated Investment Scam Websites Targeting Citizens”
The Indian government has taken action against over 100 Chinese-operated investment scam websites that preyed on vulnerable citizens. Though the sites appeared Indian, their profits ultimately reached Chinese organizers. The Ministry of Home Affairs has instructed the Ministry of Electronics and Information Technology to block these fraudulent platforms. Identified by central agencies, these sites utilized intricate fund transfers between multiple bank accounts, converting money to cryptocurrency to evade investigations. Several states alerted the government about these scams affecting the financial system. Instances, such as a Rs 712 crore Chinese-run fraud exposed by Hyderabad Police, revealed victims being lured through platforms like Telegram with false promises of part-time jobs, leading to significant losses. Scams leveraging Chinese payment gateways and Indian money mules are complicating law enforcement efforts, as observed by cybersecurity experts.
