3·15 | Case Analysis: Beware of Fraud Through Impersonation of Authoritative Institutions and Forged Policy Documents

Beware of Others Impersonating Authorities

Faking Policy Documents to Commit Fraud

Xinhua Insurance conscientiously implements regulatory requirements. While continuously enhancing services and improving consumer experience, it actively promotes financial education, popularizes the eight rights of financial consumers, and helps consumers increase risk awareness, self-protection capabilities, and financial literacy.

During the “3.15” period in 2026, Xinhua Insurance launched a series of risk alert campaigns titled “Clean Financial Networks, Protect Peace of Mind Consumption,” focusing on new employment groups such as seniors, teenagers, new residents, and “Two Agencies and Two Members” (truck drivers, ride-hailing drivers, couriers, food delivery workers). The campaign highlights common online financial marketing tricks and dangers, such as high-yield promises, impersonation of regulatory authorities to mislead, and addresses issues like debtors, excessive personal information collection, overseas bank card fraud, and internet loan chaos. The goal is to alert consumers to financial risks and reveal the true nature of online financial scams. Join us in sharpening your eyes, exposing tricks, and safeguarding your peace of mind in consumption.

Case Introduction

Mr. Li saw a “breaking news” video on a short video platform. The video displayed a “approval document” bearing the red official seal of a financial regulatory authority, claiming that the country had introduced a new policy called the “Five-Year Debt Clearance Plan,” which could help people with debt issues “clear their credit,” “full refund of insurance,” and “zero debt.” The video host claimed to be a “professional legal advisor,” stating that “by paying a 1,000 yuan fee, you can connect with national policies and completely get rid of debt troubles.”

Due to recent credit card overdue payments, Mr. Li believed the claim and paid the fee according to the instructions, providing his ID, bank card number, home address, and other personal information. However, after transferring the money, the caller could no longer be reached, and the so-called “legal advisor” disappeared. Mr. Li verified with his bank and learned that the so-called “Debt Clearance” policy had never been issued by the government. The “red-headed document” was entirely forged.

Case Analysis

This is a typical case of impersonating financial regulatory authorities to commit fraud.

1. Faking policy documents to confuse: Criminals exploit public trust in government agencies by using technical means to forge fake documents with official seals, fabricating nonexistent policies like “Insurance Refund Policy” or “Debt Collection Pilot Program.” These false messages are highly deceptive, making it difficult for ordinary people to distinguish real from fake.

2. Using short video platforms for covert traffic: Criminals leverage short videos, live streams, and other social media to promote “financial knowledge” or “legal aid,” while actually engaging in illegal profit-making activities. The entire operation is online, and once they succeed, they quickly disappear, making it very difficult for victims to seek redress.

3. Excessive personal information collection: During the “service” process, Mr. Li disclosed his ID, bank card, home address, and other sensitive information. These details may later be sold or used for other illegal activities, exposing victims to risks like telecom fraud and credit card theft.

4. Misinterpreting financial policies to deceive: Criminals misquote or deliberately distort relevant policies issued by financial authorities, leading consumers to believe in false “regulatory new rules” and fall into traps.

Consumer Risk Reminder

Xinhua Insurance hereby reminds all financial consumers:

1. Verify information sources: Policy documents from financial regulators are published through official websites and authoritative media. Be highly cautious of articles or videos claiming “new policies issued” or “internal channels,” and do not believe them easily.

2. Beware of temptations like “full refund of insurance” or “debt clearance”: Criminals often lure consumers with promises of “full refund” or “debt elimination,” which are inconsistent with laws such as the Insurance Law and the Credit Reporting Industry Management Regulations.

3. Refuse to provide sensitive information to strangers: Personal details like ID numbers, bank card numbers, passwords, and verification codes should never be casually disclosed to online “legal advisors” or “rights protection agents.”

4. Use official channels for transactions: If you have financial needs, go directly to financial institution branches or use official apps. For disputes, seek resolution through official customer service or regulatory authorities.