China's Big Four Banks Issue Warning Against Fake 5.25% Deposit Offers

According to statements from China's four largest state-owned commercial banks—Industrial and Commercial Bank of China (ICBC), Agricultural Bank of China (ABC), Bank of China (BOC), and China Construction Bank (CCB)—fraudulent advertisements claiming fixed deposit rates of 5.25% or 5% annual returns are not legitimate products. The banks warned that scammers are impersonating their names on third-party internet platforms and social media to lure consumers.

The fraud scheme typically involves posting fake high-interest ads claiming deposits of one million yuan unlock 5.25% returns, then directing victims to add WeChat contacts. Scammers subsequently promote overseas insurance products or offshore investment projects to extract commissions or commit outright fraud. The banks confirmed no such deposit products exist and all related promotional claims are false.