A migrant worker from the northern Chinese city Baoding “loaned” three credit cards under his name to friends to offset 2,500 yuan ($380) of debt he owed.
He never imagined he would later be arrested for illegal sale of credit cards that were used by criminal groups to launder money for online gambling.
In the first nine months of 2020, police cracked down on 1,700 online gambling platforms and 1,400 underground banks involving more than 1 trillion yuan ($153 billion) of illegal transactions, data from the Ministry of Public Security showed.
That compared with 7,200 online gambling cases in 2019 totaling 18 billion yuan.
In the cross-border online gambling chain, mobile payments play an increasingly important role.
As the front-runner in mobile payments, China has been aggressively promoting payments via mobile phone scans of QR codes, a type of barcode. In China, even a street food vendor owns a unique QR code for receiving mobile payments.
The convenience associated with mobile payments has also attracted criminal gambling groups.
Courtesy – Caixin Global