May 12, 2015 06:49 PM

Banking Regulator Tells Branches to Be On Guard for Deposit Scams

(Beijing) – The banking regulator used a recent meeting to tell its branches across the country to beef up supervision over banks regarding fraud that takes advantage of people's trust in lenders, sources with knowledge of the matter say.

Since last year, several scams have been uncovered involving people who thought they were dealing with a bank but were really putting money into other accounts.

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