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Fraud ring run by Taiwanese suspects busted in China

2012/06/21 22:53:37

Taipei, June 21 (CNA) An international fraud ring in China run by Taiwanese suspects was busted by Chinese authorities recently, after it reportedly swindled more than NT$4.7 billion (US$157 million), according to a Chinese media report Thursday.

Nanfang Daily reported that the Taiwanese suspects were assisted by South Koreans and Korean-speaking Chinese people, who obtained Korean people's debit card information by calling them and asking them to log on to a certain website with their personal information underthe pretax that their cards had been used to launder money.

Some 600 suspects were apprehended in police raids in 11 provinces and cities on July 11 in China, the report said.

The report also said that 11 Taiwanese, including suspects surnamed Wu and Huang who allegedly provided software that could modify debit cards' passwords, were arrested in China's Guangdong Province.

The gang's criminal activities were discovered when a bank found a blank debit card, containing only a black barcode, in its automatic teller machine (ATM).

A few days later, when a Taiwanese man attempted to withdraw money from the ATM with another blank debit card, a bank employee reported the incident to the police.

(By Nell Shen)