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Guanglian Technology Services (Dongguan) Co., Ltd.
Contact: Mr. Li
Contact number: 13763315511
Contact address: 2510, Building 3, First International, Nancheng District, Dongguan City
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Credit card risk control is upgraded again! Multi-bank announcement

On June 18, Bank of China Co., Ltd. announced"Announcement on Adjusting Credit Card Issuance, Increase and Transaction Control Measures"According to regulatory requirements, in order to create a good credit card use environment, starting from June 20, credit card issuance, increase and transaction control measures will be adjusted.

Specifically, if the Bank of China monitors or learns of the cardholder from any channel, one of the following situations occurs:

(1) Deterioration of credit status;

(2) Failure to repay credit cards or personal loans on time;

(3) Sign a credit card personalized installment repayment agreement;

(4) Apply for and use credit cards by fraud;

(5) Abnormal transaction behaviors such as cash out and abnormal capital flow during the use of the credit card;

(6) An application for bankruptcy has been submitted to the court;

(7) There are other violations of laws and regulations.

Bank of China has the right to take some or all of the following risk control measures, including but not limited to:

(1) Change the account status of the cardholder;

(2) Restrict consumption and cash withdrawal transactions of cardholders;

(3) No longer handle new card issuance, increase, installment and other services for cardholders. If the cardholder's credit status recovers, Bank of China has the right to directly remove some or all of the above risk control measures.

According to previous reports, in November last year, the China Banking and Insurance Regulatory Commission notified major banks and joint-stock banks of major problems found in credit card business inspections and requested improvement of abnormal transaction monitoring. Effectively monitor and identify current behaviors, pay attention to behavioral risks such as collecting points, cashing out through third-party payment institutions, and repaying arrears by one person for multiple people, and strengthen management and control measures. Strengthen the control of credit card overseas transactions.

Moreover, regulation requires strict trading rules. Correctly set the acquirer's identification code, do not use credit cards as a channel to issue business loans, and prevent employees from taking advantage of their positions to obtain improper benefits.

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