How to beat the scammers

February 28, 2012 | BY

clpstaff &clp articles

Internet investment scams are on the rise in China. Protecting your business's reputation is of paramount importance, as the scams work quickly and seek to gain as much money as possible, before the fraudsters can be traced

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You get a call. Your offices in Beijing and Shanghai have been inundated with complaints from distressed members of the public. They say they have bought investment products from your company but their money has disappeared. Investments range from tens of thousands of US dollars to Rmb10 million or more. Several financial institutions have found themselves in this position in recent months.

Internet investment scams are one of the latest forms of online frauds in Asia. With the boom in Asian IPOs, small investors are constantly looking for the next big thing and can easily be tempted by offers of unmissable investment opportunities.