China plans to expand the list of cities and provinces, on the territory of which the People’s Bank will test the digital yuan.
At the same time, the authorities of the Celestial Empire fear that the number of fraudulent applications for transactions with CBDC has been growing recently.
The Ministry of Industry and Information Technology of the People’s Republic of China said that one of such fake applications for digital currency was detected in the messenger WeChat.
Such fake services collect personal information about citizens and can use it for selfish purposes.
The ministry emphasized that the fake app has an interface that is very different from the real CBDC transaction service.
In addition, the authorities fear that such applications could be used to move digital currency outside China to legalize criminal proceeds.