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China sees rise in credit card fraud

By CAO YIN | chinadaily.com.cn | Updated: 2017-07-05 17:00

China saw a slight increase in credit card fraud last year, according to data from the Supreme People's Court.

The number of reported cases rose by 3.8 percent year-on-year between 2015 and 2016, the top court said on Wednesday, without disclosing exact figures.

About 80 percent of those prosecuted had purposely run up large credit card debts, while 18 percent had opened credit accounts using a false identity or used fake credit cards.

Half of defendants were accused of fraud involving sums ranging from 10,000 to 50,000 yuan ($1,500 to $7,500), while half were also unemployed, the data show.

The SPC said most defendants were male and that most cases were reported in the provinces of Guangdong, Fujian and Liaoning.

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