Teenager Exploits E-commerce Loophole, Rakes in Rs 5 Crore with Fake Refunds

• A 17-year-old in China, surnamed Lu, exploited an online shopping platform's refund policy to commit fraud.
• He filed 11,900 fake refund requests, using multiple accounts and false courier tracking numbers.
• Lu obtained products worth 4.76 million yuan (Rs 6.16 crore) without returning them and resold them for a profit of 4.01 million yuan (over Rs 5 crore).
• He spent the illicit gains on luxury items like new mobile phones, branded clothing, and outings with friends.
• Sentenced to six years in prison due to being a minor, the case highlights growing concerns over e-commerce fraud in China.

Why It Matters: A Chinese teenager exploited an e-commerce refund loophole, amassing Rs 5 crore, leading to a six-year prison sentence.