Recently, the collapse of the billion dollar scam "Xinkangjia", which claims to have a "daily interest rate of 2%", has aroused the attention and vigilance of the whole society towards new types of online fraud. Regulatory intensity is blowing the whistle. According to incomplete statistics from First Financial, since July, financial regulatory departments in many places including Guangdong, Yunnan, Hunan, Liaoning, Heilongjiang, Zhejiang, Fujian, etc. have issued intensive warnings about the risks of illegal fundraising under the name of "virtual currency" and new types of online fraud. First Financial has found that although the new type of online fraud may seem dazzling, it remains true to its roots and presents multiple commonalities. For example, exaggerated advertising and false promises, commonly used phrases include "guaranteed profit without loss", "high fixed income", "capital preservation and interest payment", etc; For example, the yield is abnormally high, claiming a daily chemical yield of 1% or even 2%, with an annualized yield exceeding 300%; For example, through the "head pulling" mechanism, users are encouraged to promote a certain project and promise hierarchical rewards. These online scams usually have a common name, which is "fund disk". Lawyer Huang Jinliang from Yingke (Shenzhen) Law Firm in Beijing told reporters that there is now a term in the legal community called "pyramid scheme fundraising fraud", which refers to the act of committing fundraising fraud through pyramid schemes. (First Financial)
