China’s main internal security and police university is training hackers for cyber attacks, according to new information obtained by the U.S. government.
The People’s Public Security University in Beijing, a part of the Ministry of Public Security that trains all of China’s police and internal security troops, has several units engaged in training and operations for cyber attacks.
One section of the school was identified last month as a key training center for police network attack operations: The Network Attack and Defense Laboratory. The lab uses Chinese software that was identified last year by officials as designed for training cyber warfare operators and spies. Continue reading
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Chinese Companies Go to Fraud School
Usually, one goes to college to learn a productive skill. A recently reported “fraud school” in China, however, fills a lucrative niche by teaching small companies how to fabricate their financial statements so they can enter U.S. capital markets and harvest millions of dollars from unsuspecting investors.
The school was featured in a Chinese newspaper article in early April. The piece, titled “Unmasking the Disaster of ‘China Concept’ Stocks,” refers to an unnamed fraud school that it says is under investigation by Chinese police. The author is listed as John Caines, whose affiliations are not stated. The newspaper that printed the article, Fortune Today, did not respond to an email enquiring about Caines’ identity.
The “fraud school,” which is actually an investment bank, counsels Chinese enterprises that want to make quick money on how to game the stock market in the United States, the article says. The elaborate system of fraud includes faking sales contracts, fabricating government filings, and massaging financial statements. These documents are then given an imprimatur of credibility with the help of a cooperative auditor. At this stage the company is still private, in China.
Full article: Chinese Companies Go to Fraud School (The Epoch Times)