Fraudsters are impersonating Chinese state-owned banks on third-party platforms
and social channels, circulating ads such as “deposit 1 million yuan, earn
5.25%.” Agricultural Bank of China and China Construction Bank said they have no
such deposit products and the promotions are false. Scammers ask victims to add
contacts on WeChat, then pitch overseas insurance or investment products to earn
commissions or commit fraud. Banks urged customers to use official branches,
websites and apps only, be wary of returns far above market rates, avoid unknown
links and never disclose ID numbers or SMS verification codes.
