A Chinese criminal ring has stolen $50 million by franchising thousands of fake online shops, experts say

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A study linked one Chinese criminal organization to over 75,000 fraudulent online shops. The group, known as 'BogusBazaar,' has processed over $50 million in fake orders, the study found. The majority of the 850,000 victims are based in the US and Europe. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Access your favorite topics in a personalized feed while you're on the go. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . You can opt-out at any time. Advertisement Have you encountered an online shop with deals too good to be true? Well, they probably are, and the website probably is too. As the rise of online shopping took hold during the pandemic, so did the rise of fake online shops and products. SR Labs is a German-based cyber security company that consults with clients in more than 21 countries. The company last week announced the findings of a three-year study, which found that one Chinese criminal organization was linked to more than 75,000 fraudulent online shops. This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. Have an account? Log in .