China Targets Overseas Telecom Fraud Leveraging Blockchain, Crypto, Metaverse, and AI
In a recent meeting, China's Central Political and Legal Affairs Commission has emphasized the need for a systematic, legal, and source-based approach to combat overseas telecom network fraud and related criminal activities. The announcement was made on August 6, 2023, as reported by the Economic Daily.
The commission pointed out that fraud groups have been increasingly utilizing new technologies such as blockchain, metaverse, virtual currency, and AI intelligence to update their criminal tools, making them more concealed and deceptive.
Overseas Telecom Fraud: A Growing Concern
In recent years, overseas telecom network fraud groups have been luring ordinary people into fraudulent activities under the guise of «high-paying job recruitment.» These activities have led to violent detention, human trafficking, and a series of dark industrial chains, causing significant harm to the safety of people's lives and property.
The diversity of fraudulent methods, the ruthlessness of coercion, and the enormity of the defrauded amounts have led to public outrage. The commission stressed the need to «resolutely maintain the people's vital interests, firmly uphold social decency, and firmly uphold the authority of the rule of law.»
Organized Crime Features
The overseas telecom network fraud groups are characterized by tight organization, clear division of labor, multi-industry support, industrial distribution, group operation, and refined division of labor. This has necessitated strengthening international law enforcement cooperation and joint efforts with relevant countries to eradicate fraud dens, rescue trapped individuals, and bring the criminal forces and their organizers to justice.
Utilizing New Technologies for Fraud
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