I run an online business and the level of fraud we have seen out of China is insane. We are constantly changing tactics and the fraudsters follow suit. They are dogged, determined, and will persist until they put you out of business if you let them.
Of course, we don't purposely do business with anyone from China, but they go to great lengths to cover their origin, even employing Mechanical Turk workers to do some of their dirty work. The guy who purposely sold BTC to someone out of China was literally begging for what he got.
And these guys are virtually untouchable. We are a small business and we see a ton of this stuff, so I can imagine what larger businesses must experience. eBay alone must be the conduit for tens or hundreds of millions in fraud from China.
Amidst all of the talk about stolen IP, military secrets, etc. emanating from China, the likely billions of dollars in fraud targeted at American consumers and businesses is the great untold story.
Of course, we don't purposely do business with anyone from China, but they go to great lengths to cover their origin, even employing Mechanical Turk workers to do some of their dirty work. The guy who purposely sold BTC to someone out of China was literally begging for what he got.
And these guys are virtually untouchable. We are a small business and we see a ton of this stuff, so I can imagine what larger businesses must experience. eBay alone must be the conduit for tens or hundreds of millions in fraud from China.
Amidst all of the talk about stolen IP, military secrets, etc. emanating from China, the likely billions of dollars in fraud targeted at American consumers and businesses is the great untold story.