Anti-fraud unit saves US$6m in 1st month
Print Edition
A NEW police unit dedicated to telecom fraud has helped to prevent thousands of scams involving about US$6 million since its launch last month.
An official from the Center for Combating Telecom and Web Scams said yesterday it handled 4,738 cases between March 21 and April 20, including one that not only prevented a German firm with a Shanghai office losing almost 3 million euros (US$3.4 million) but also resulted in the detention of three suspects.
The establishment of a 24-hour office to monitor telecom and online scams, as well as improved relationships with local banks, has increased the efficiency with which such cases are handled, said center official Xue Yong.
He declined to give specific details about how the department operates, but said it has “reduced the reaction time to reported scams from hours to minutes.”
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