Understanding China, One Blog at a Time

An American in China

China Scam Alert

Posted by w_thames_the_d on September 18, 2013


Chinese are great at scamming, or perhaps you know that. Just in case you do not, then you should. Anyway, here is a site which explains it all….

Link http://www.chinascampatrol.org/

“… There are no shortage of thieves in China. Here are the undeniable statistics extrapolated from Interpol, ICC (International Chamber of Commerce), WTO (World Trade Organization), and the World Court…

* One in every ten business transaction over $10,000 in China are scams
* One in every twelve stock trades in China involve fraud
* Almost 20% of all export transactions from China result in litigation
* There are 30,000+ known professional fraudsters operating in China
* An actual “Fraud School” has been operating in China for over three years
* Approximately 300 frauds are perpetrated every hour in/from China
* 12% of all foreign business operating in China are swindled within a year
* 38% of all foreign companies operating in China for 5 years claim to be a victim of at least one scam
* Less than 2% of foreigners prevail in Chinese courts against local scammers
* Although things are improving slightly, only Nigeria is home to more fraudster than China as evidenced by more than 3,000 pending laws suits at the world court

IDENTIFYING THE RODENTS: Not as difficult as you might think. There are thirty thousand known scammers and they are all on a blacklist you can get for free at this this link if you are an entrepreneur or investor: 2012 China Business Blacklist If you are a teacher working in China visit this web site China School Black List andperiodically check with China Foreign Teachers Union.

IDENTIFYING THE 60 MOST COMMON CHINA SCAMS: If you are an investor or a entrepreneur see 15 Red Flags Of A Chinese Scam If you are foreign teacher, visit here for just 5 minutes.Teacher Scams In China

PROTECTING YOUR CHEESE: This is an ongoing learning process. It starts by reading weekly scam alerts at this link: Bad Apples and either attending a free seminar or getting a one hour risk management & fraud prevention briefing and vulnerability assessment by one of our volunteers. You only pay their transportation charges to and from your office or the long distance call.”

To keep reading go here
http://www.chinascampatrol.org/

3 Responses to “China Scam Alert”

  1. Observer said

    China is a scam. Nothing more need be said.

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