Millions disappear from bank accounts in China

Published Tue, May 19, 2015 · 09:50 PM

Beijing

A BUSINESSWOMAN deposited the equivalent of almost US$2 million at a branch of China's largest bank but only US$20 remained after most of it was transferred without her authorisation, state media reported.

Wang Li was one of several victims of a scam, involving millions of dollars, at a branch of the state-owned Industrial and Commercial Bank of China (ICBC) in Shijiazhuang, highlighting increasingly sophisticated financial crime.