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China’s top court, prosecutors report surging cyberscams
Legal Interview |
2024/03/08 16:21
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China saw large increases in arrests and cases of phone and internet scams last year, according to reports presented Friday to the National People’s Congress that stressed the ruling Communist Party’s determination to safeguard national security and public order.
A report issued by the Supreme People’s Procuratorate said the number of cases of computer crimes including social media fraud jumped 36.2% in 2023 and involved 323,000 people.
The sharp increase likely reflects a doubling down on cross-border computer fraud that has resulted in thousands of people, some of them victims of human traffickers who forced them to work for crime rings in remote areas of Myanmar and other neighboring countries, being returned to China.
Indictments of people for telecoms fraud jumped nearly 67% to about 51,000, the report said.
Overall, arrests surged 47% to 726,000 and indictments were up 17.3% to 168,800, the report said. China’s national congress serves mainly a ceremonial role, endorsing policies set by President Xi Jinping and other top leaders of the Communist Party. It is due to end its six-day session on Monday with approvals of reports by Premier Li Qiang and others that set the party’s plans for the year.
As China marks the 75th anniversary of the Oct. 1, 1949, founding of the People’s Republic of China, the party is stressing its determination to fortify its control and protect national security. |
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Investment Fraud Litigation |
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Securities fraud, also known as stock fraud and investment fraud, is a practice that induces investors to make purchase or sale decisions on the basis of false information, frequently resulting in losses, in violation of the securities laws. Securities Arbitration. Generally speaking, securities fraud consists of deceptive practices in the stock and commodity markets, and occurs when investors are enticed to part with their money based on untrue statements.
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