The Shanghai Public Security Bureau has busted an insurance scam that had made over 60 million yuan (about $9.3 million) in illegal profits. The case has revealed weak internal controls over insurance companies and a lack of consumers’ privacy protections, said the bureau at a press conference on Aug. 12. The bureau said the scammers…
Insurance Scam Busted in Shanghai
August 18, 2021
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Business & EconomyChinaChina Banking and Insurance Regulatory Commissioninsurance scamRen ZepingShanghaiSoochow Securities Co.
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