Photo: IC
An anti-fraud mobile application integrated with large language models, multimodal models, and AI agent technologies was launched on Sunday, allowing users to describe suspicious situations in the app and receive risk assessments, scam tactic identification, and fraud-prevention guidance through text, audio and video, the Xinhua News Agency reported on Sunday.
The mobile application, named “national anti-fraud AI” and designed by the Shanghai Public Security Bureau under the guidance of China’s Ministry of Public Security (MPS), is expected to further enhance the use of information technology and artificial intelligence (AI) in efforts to prevent telecommunications and online fraud, helping the public effectively detect and avoid scams, Xinhua reported, citing the MPS.
The app is currently available on major mobile app stores. Mini programs of the platform on WeChat and…
Investment fraud targets the human desire for financial growth by promising high returns with “low to no risk.”
- Ponzi Schemes: Named after Charles Ponzi, these schemes pay “returns” to earlier investors using the capital brought in by newer investors. There is no actual underlying business; the system collapses when new recruitment slows down.
- Pyramid Schemes: Similar to Ponzi schemes, but participants are usually required to sell a product or service. The primary “profit” comes from the recruitment fees of new members rather than actual product sales.
- Pump and Dump: Fraudsters spread false, positive rumors about a cheap stock (the “pump”) to drive up the price. Once the price peaks, they sell their shares (the “dump”), leaving other investors with worthless stock.