China’s state-owned banks in the spotlight as fake fighters follow the money
Long-running efforts to battle online counterfeiters by pursuing the financial institutions that help them move money around seemed to make headway late last month when the Bank of China handed over records on an accused counterfeiter to a US court. Meanwhile, a study publicised last week suggests that just three state-run banks in China handle the lion’s share of payments for counterfeit goods transactions initiated through spam emails.
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