# fraud
Latest news and articles about fraud
Total: 3 articles found
Widespread Branch-Level Misconduct: Major Chinese Insurer Hit with Dozens of Regional Fines in Early 2026
China United Property & Casualty Insurance has been hit with at least 15 regional regulatory penalties in early 2026 for widespread branch-level misconduct including falsified documents, fictitious intermediary fees, inflated agricultural insurance and unauthorised product changes. The sanctions, issued by the National Financial Regulatory Administration and its regional bureaus, highlight systemic control weaknesses and signal intensified supervisory scrutiny of insurers in China.
Shenzhen ‘Private Gold’ Scheme Freezes Withdrawals as Investors Face Billion‑Yuan Losses
A Shenzhen‑based private gold platform, Jieworui, has frozen withdrawals and offered investors steep haircuts, leaving potential claims exceeding 100 billion yuan and tens of thousands affected. The product was a high‑leverage, social‑media‑distributed ‘lock‑price’ scheme that failed when rising gold prices overwhelmed the operator’s liquidity, prompting regulatory scrutiny and potential criminal probes.
Forged Seal and a Hidden Channel: How a 3.5bn RMB Loan Became a Bank’s Biggest Loss
A forged corporate seal and a multi‑layered interbank channel enabled the disappearance of Rmb3.5bn in a loan scheme that implicated multiple banks and asset managers. Criminal convictions followed, but a Supreme People’s Court ruling that the deposit was part of an illegal collusion left the originating bank to absorb the loss and restart litigation against several counterparties seeking partial recovery.