Ant Group Releases Anti-fraud Report for Most of 2021

Ant Group released its anti-fraud report for the first three quarters of 2021 on Thursday. More than 14,700 volunteers carried out the anti-fraud campaign launched by Ant Group in thousands of communities and cities around the country.

Volunteers held nearly 8,000 activities and provided more than 200,000 elderly people with instructions on how to better use smart phones. Part of the education included awareness on financial scams, fraud, and other public welfare services for older users.

According to the report, nearly 70% of consumers lack sufficient financial knowledge, especially urban residents in third-tier cities and below. Eighty percent of the elderly can’t use smart phones very well and fear being deceived and losing their money.

Young students aged 18 to 24 account for nearly 40% of people who have been duped by scammers. Common scams such as click farming, campus loans, and false transactions in online games, often appear on campuses across the country. In addition to being cheated, some college students can be tempted by the ease of becoming a fraudster.

Under the guidance of the Ministry of Public Security, the “Anti-fraud Campaign on Campus” was launched. In the coming year, it will be carried out in 20 cities and 100 universities across the country. Through online and offline methods, anti-fraud education for millions of students will be carried out.

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China’s Foundation for Development of Financial Education and Ant Group jointly launched the anti-fraud public welfare campaign for the residents of the third, fourth and fifth tier cities. Since July, volunteers have popularized knowledge about fraud and taught residents in villages, towns, factories, schools, communities and other crowded places about some of the online hazards.