GPS News  
TRADE WARS
Suspect arrested in China digital yuan scam
by AFP Staff Writers
Beijing (AFP) Nov 17, 2021

Chinese police said Wednesday they have arrested a suspect in a digital currency scam who allegedly swindled thousands of dollars in one of the first such cases involving the central bank's new e-wallets.

China has been carrying out pilot schemes for its digital yuan since late 2019, rolling out tests in 10 cities including the capital Beijing.

Authorities in the eastern city of Gaoyou in Jiangsu province said they arrested a suspect who allegedly impersonated someone else to create an e-wallet under her name.

The suspect first claimed to be a police officer to obtain the victim's personal information including her name, identification number and bank card number, said Gaoyou authorities in a statement.

Without her knowledge, this information was used to set up a digital yuan e-wallet, into which more than 300,000 yuan ($47,000) was transferred from her bank account.

The money was later channelled into the suspect's own e-wallet, before police caught on.

There are currently 140 million personal digital yuan wallets in use in China, according to state media, with total transactions amounting to 34.5 billion yuan ($5.4 billion) as at the end of June.

With the central bank developing its digital yuan, all financial transactions involving cryptocurrencies that might pose competition have been deemed illegal.

The new electronic payment method mainly aims to meet demand from domestic retailers, according to state media reports.


Related Links
Global Trade News


Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor
$5 Billed Once


credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly


paypal only


TRADE WARS
Stock markets down, dollar and pound rise as inflation surges
Hong Kong (AFP) Nov 17, 2021
Equity markets turned lower Wednesday while the dollar and pound strengthened as inflation concerns continued to fan expectations that central banks will be forced to tighten monetary policy quicker than expected. New York's three main indexes rose again after data showed a forecast-busting rise in retail sales as well as solid earnings from shopping giants Walmart and Home Depot. The news reinforced optimism about the recovery in the world's top economy and showed consumers were brushing off th ... read more

Comment using your Disqus, Facebook, Google or Twitter login.



Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

TRADE WARS
Afghanistan's food crisis a 'legacy' of previous government: Taliban

North African climate change threatens farming, political stability

Climate change rocks agricultural commodity markets

Organic farmers find fertile ground in North Africa

TRADE WARS
Study challenges standard ideas about piezoelectricity in ferroelectric crystals

Lithography-free carbon nanotube arrays: The simple way to grow an army of tiny superheroes

Pushing the limits of electronic circuits

New algorithms advance the computing power of early-stage quantum computers

TRADE WARS
Costly delays to Boeing's 777X rile Emirates

FedEx relocates pilots from Hong Kong over city quarantine rules

Steady need for new planes despite pandemic: Airbus

Airbus and its partners demonstrate how sharing the skies can save airlines fuel and reduce CO2 emissions

TRADE WARS
Prosecutors broaden probe into ex-Continental execs

GM factory launch ushers in Detroit's EV pickup campaign

Biden electric car plan would boost Detroit, anger allies

Uber resumes shared rides in US

TRADE WARS
China's struggling Huarong secures $6.6 billion lifeline

Report shines light on China's weight in global bodies

Suspect arrested in China digital yuan scam

Stock markets down, dollar and pound rise as inflation surges

TRADE WARS
Amazon deforestation hits monthly record in Brazil

Deforestation drives increasingly deadly heat in Indonesia: study

Climate change and fires: Bolivia's forests in peril

'We can't live in a world without the Amazon': scientist

TRADE WARS
Earth from Space: Cancun, Mexico

NOAA's next-gen weather satellite, built by Lockheed Martin, moves closer to launch

Student's research upends understanding of upper atmospheric wind

Warming temperatures increasingly alter structure of atmosphere

TRADE WARS
The secret of ultralight but stiff sandwich nanotubes

AFRL Nano Team takes lead in building stronger ties with India









The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.