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Inside the Chinese fraud rings stealing billions from banks and retailers

Chinese organized crime groups are making as much as $1 billion annually in tap-to-pay fraud schemes targeting retailers and banks.

Inside the Chinese fraud rings stealing billions from banks and retailers

Published July 17, 2026 · Category: Finance

Overview

Chinese organized crime groups are making as much as $1 billion annually in tap-to-pay fraud schemes targeting retailers and banks.

Source

Originally published at www.cnbc.com.

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