Inside the Chinese fraud rings stealing billions from banks and retailers

Chinese organized crime groups are making as much as $1 billion annually in tap-to-pay fraud schemes targeting retailers and banks.

# Inside the Chinese fraud rings stealing billions from banks and retailers Chinese organized crime groups are making as much as $1 billion annually in tap-to-pay fraud schemes targeting retailers and banks. **Read the full article:** [CNBC](https://www.cnbc.com/2026/07/17/tap-pay-fraud-retail-crime.html) *This article was originally published by CNBC. MoneyWiseInc provides expert curation of the best financial content from trusted sources.*