China’s top search engine clamps down on P2P lending sites after spate of money-stealing frauds

Search giant Baidu (NASDAQ:BIDU) recently removed links to over 800 Chinese peer-to-peer lending websites from its search results, according to China’s New Business Daily (hat-tip to TechNode). The new blacklist comes after a string fraudulent sites went dark and high-tailed it with lenders’ money, including one just last week. Over 100 such sites have absconded or went bust in recent years, with an estimated US$110 million lost in under half a year.

http://www.techinasia.com/chinas-top-search-engine-clamps-p2p-lending-sites-spate-moneystealing-frauds/