Feipiao is a Chinese term that translates to “fake ticket” or “counterfeit ticket.” It is commonly used in the context of counterfeit money or documents, such as fake banknotes or fake train tickets. Feipiao can also refer to a type of money laundering scheme in which fake invoices or receipts are used to generate illicit funds or to conceal the true source of money.
In a feipiao scheme, criminals create fake invoices or receipts for goods or services that were never actually provided. These fake documents are then used to claim tax deductions or other financial benefits, or to launder money through the financial system. For example, a criminal organization might create fake invoices for consulting services that were never actually provided, and then use these invoices to claim tax deductions or to transfer money between bank accounts without arousing suspicion.
Feipiao schemes are difficult to detect and prevent, as the fake invoices and receipts are often difficult to distinguish from genuine ones. They can also be difficult to prosecute, as they often involve complex financial transactions and multiple layers of deception. In order to combat feipiao schemes, law enforcement agencies and regulatory authorities need to be vigilant and have the necessary tools and resources to investigate and prosecute these crimes.
This page was last updated on January 2, 2023.