Why Chinese involvement in financial frauds in India is alarming

Within a span of 15 days two major financial fraud cases involving Chinese nationals have come to the forefront Soon after the Delhi Police unearthed a transnational malware and fraud syndicate and arrested two Chinese women in a gang of 12 in multiple raids starting January 13 two Chinese have been caught by the UP ATS from Noida for fraudulent monetary transactionsThis is cause for alarm as it raises apprehensions that multiple Chinese syndicates have been operating within the country to cheat and defraud Indian citizens and capture personal data of unsuspecting people for illegitimate purposesWhen it arrested Chinese nationals Chaohong Deng Daoyong 27 and Wu Jiazhi 54 the Delhi Police said the accused were installing malware in devices of people in the garb of a multilevel marketing applicationPolice said that around 40000 confirmed victims have been identified who have been cheated of crores in two months Almost Rs 475 crore of cheated money has been blocked in various accounts and more than Rs 25 lakh recovered in cash from the arrested Chinese nationalsThe malicious app was also making millions of Indian users follow thousands of social media accounts of unknown origin and ownership with huge potential of future misuse of this by a foreign entity said Anyesh Roy DCP Crime CrimeNow the Uttar Pradesh AntiTerror Squad UPATS has arrested Xu Xunfu aka July and Li Teng Li aka Alice from Gautam Buddha Nagar following a red corner notice against them by the InterpolAdditional Director General law and order Prashant Kumar said The UPATS arrested the two for purchasing SIM cards by submitting forged documents and then making fraudulent monetary transactions with those SIMs via banks It is for the first time that the ATS has arrested Chinese nationalsHe further said We traced the duo after interrogating 14 persons arrested last week from Delhi and different parts of Uttar Pradesh in a similar fraudGK Goswami Inspector General ATS said Xu Xunfus business visa had expired in July 2020 while Li Teng Lis tourist visa expired in September 2020The Delhi Police have also hinted two Chinese nationals Yangqing Zhang and Bao Peng are the kingpins of this criminal conspiracy to cheat and defraud Indian citizens and hack into their devices through malicious mobile applications This is a serious concern as kingpins of Chinese origin are hatching the conspiracy from locations outside IndiaNot just financial frauds but alleged Chinese involvement have also been claimed by Delhi police in a spying case as on September 14 last year the Special Cell of the Delhi Police had arrested 61yearold freelance journalist Rajeev Sharma for allegedly working with Chinese intelligenceDuring Sharmas police remand a Chinese woman Qing Shi and her Nepalese partner Sher Singh alias Raj Bohra were also arrested They were allegedly found supplying the scribe with huge amounts of money routed through hawala channels for conveying sensitive information to Chinese Intelligence DCP Special Cell Sanjeev Yadav had saidThis is why the Indian Police force in a coordinated manner is keeping extra vigil on the working of these fraudster syndicates involving Chinese nationalsThis story has been sourced from a third party syndicated feed agencies Midday accepts no responsibility or liability for its dependability trustworthiness reliability and data of the text Midday managementmiddaycom reserves the sole right to alter delete or remove without notice the content in its absolute discretion for any reason whatsoever