On April 12, many banks reduced the online transaction limit of personal accounts, and the topic of online transaction was hot searched.
With the continuous crackdown on Telecom fraud, recently, several banks, including China Everbright Bank Company Limited Co.Ltd(601818) , Agricultural Bank Of China Limited(601288) , Longhai rural commercial bank, Shanghai Pudong Development Bank Co.Ltd(600000) and others, have successively issued announcements to adjust the limits of some customers’ personal online banking, palm bank transfer, online payment transactions and non counter businesses. Some banks even have a daily limit of 10000 yuan, which has attracted widespread attention.
Banks have said that the quota work for relevant accounts is mainly to implement relevant requirements, prevent the risk of telecom network fraud and ensure the safety of customer account funds. So, what is the impact of the adjustment on individuals?
several banks issued announcements
there is a bank to adjust the transaction limit of online payment on a single day to 10000 yuan
According to the comprehensive securities daily and the economic observer, the performance of banks is different in terms of specific adjustment scope and details.
On April 12, Shanghai Pudong Development Bank Co.Ltd(600000) Hangzhou Branch issued an announcement on adjusting the non counter business limit of individual bank settlement account. Previously, Shanghai Pudong Development Bank Co.Ltd(600000) Chengdu Branch, Changsha branch and Fuzhou branch all issued similar announcements, and appropriately adjusted the non counter business limit of individual bank settlement account according to the account usage
On April 9, Longhai rural commercial bank issued the announcement on batch adjustment of non counter business limits of stock personal settlement accounts. will set different levels of non counter business limits after risk classification of accounts (counter transaction and collection business are not limited), mainly by referring to the personal information (age, etc.) reserved by customers, the amount of collection and payment transactions in recent 6 months, the number of transactions and account balance and other factors. The specific adjustment start time is April 20, 2022.
On April 2, Agricultural Bank Of China Limited(601288) issued the announcement on reducing the transaction limit of some customers’ online financial channels, which said that the personal online banking and cash transfer limits of some customers will be adjusted one after another in the near future, mainly to ensure the security of customers’ accounts and funds and prevent Telecom fraud. However, the announcement did not mention specific adjustment regions, user types and adjustment details.
The announcement also mentioned that at that time, if customers need to increase the online transfer limit, please bring valid ID card and bank card to any outlet of our bank.
Previously, China Everbright Bank Company Limited Co.Ltd(601818) Credit Card Center announced on March 24 that will adjust the online payment transaction limit from May 12, 2022. It mainly includes online payment transaction, that is, the payment transaction you consume through various online transaction channels and complete through China Everbright Bank Company Limited Co.Ltd(601818) payment platform. The default single limit and single day limit of online payment transaction are adjusted to 10000 yuan this time
As for the reasons for the adjustment, according to the announcement issued by the bank, it is mainly to implement the requirements of the people’s Bank of China for hierarchical and classified management of individual accounts, anti Telecom fraud and anti money laundering, and prevent telecom network fraud.
Many banks mentioned “non counter business” in the announcement, which is simply the business not handled at the bank counter, including but not limited to online banking, mobile banking, gateway payment, express payment, sales terminal (POS), self-service teller machine (ATM) and other businesses.
sword finger Telecom fraud
The above-mentioned banks have said that the quota work for relevant accounts is mainly to implement relevant requirements, prevent the risk of telecom network fraud, and ensure the security of customer account funds.
At present, with the rapid development of Internet economy and telecommunications industry, the new crime represented by telecom network fraud continues to occur frequently, and has become one of the prominent crimes with the fastest rise and the strongest response from the masses. Swindles such as “gambling to kill pigs” and “swiping loans” occur frequently.
According to the statistical report on China’s Internet development previously released by China Internet Network Information Center (CNNIC), as of December 2021, 38% of Internet users said they had encountered network security problems in the past six months. Among them, the proportion of Internet users who suffered personal information disclosure was the highest, accounting for 22%; Internet users who suffered from online fraud accounted for 16.6%.
It is worth noting that while a number of banks have lowered the online transaction limit of personal accounts, the Supreme People’s Procuratorate and the Ministry of public security recently jointly listed and supervised five major cross-border telecommunications network fraud cases, such as the Zhejiang “12.30” case.
It is reported that the five cases listed and supervised this time are all cases of cross-border telecom network fraud criminal groups, with a wide range of victims and a large number of victims. Many cases involve huge amounts of money and serious social harm.
attachment: slide view of 5 major cross-border telecom network fraud cases ↓↓
\u3000\u30001. Zhejiang “12.30” telecom network fraud case in December 2020, Zhejiang public security organs carried out centralized research and judgment on the clues of overseas telecom network fraud groups, and dug up a telecom network fraud group entrenched in Cambodia. The public security organ preliminarily found out that the fraud group set up a false investment platform abroad to defraud Chinese citizens has arrested more than 400 fraud dens and associated criminals, involving more than 150 million yuan
\u3000\u30002. Fujian “4.09” telecom network fraud case in April 2021, Fujian public security organs dug up a telecom network fraud group entrenched in northern Myanmar from the clues of the smuggling case of personnel in the province. The public security organ preliminarily found out that the fraud group has successively set up dens in some Southeast Asian countries to carry out telecommunications network fraud such as false investment and financial management and bill swiping against Chinese citizens has arrested more than 80 fraud dens and associated criminals, involving more than 60 million yuan
\u3000\u30003. Henan “6.20” telecom network fraud case in June 2021, Henan public security organ dug up a telecom network fraud group entrenched in northern Myanmar according to the clues reported by the victims. The public security organ preliminarily found out that from February 2019 to July 2021, the fraud group successively set up dens in many places in northern Myanmar to carry out telecom network fraud against Chinese citizens has arrested more than 100 fraud dens and associated criminals, involving more than 120 million yuan.
\u3000\u30004. Hunan “8.07” telecom network fraud case in August 2021, Hunan public security organ started with the clue of “card breaking” action and dug up a telecom network fraud group entrenched in northern Myanmar and a criminal gang selling bank cards in the province. The public security organ preliminarily found out that the fraud group organized personnel to sneak abroad for fraud activities for many times, and set up a false investment platform abroad to defraud Chinese citizens; The card trafficking gang has long organized domestic personnel to illegally buy and sell bank cards More than 3000 people have been arrested in the fraud gang
\u3000\u30005. Chongqing “6.15” telecom network fraud case in June 2021, Chongqing public security organ dug up a telecom network fraud group entrenched abroad when checking relevant case clues. The public security organ preliminarily found out that the fraud group successively defrauded Chinese citizens by setting up a false investment trading platform in Myanmar and other places has arrested more than 100 fraud dens and associated criminals, involving more than 120 million yuan
According to the Securities Daily, “accounts with abnormal amount of money in and out of accounts for a long time, accounts that do not use account transactions for a long time or accounts suspected of money laundering may become the object of bank limits, which is a means for banks to strengthen their own risk management.” Wang Pengbo, a senior financial analyst at Broadcom consulting, told reporters. In addition, according to Zhongxin Jingwei, Wang Pengbo believes that the limit will be inconvenient in large amount transfer, but the security will be more guaranteed, and the loss will be much smaller in case of fraud.
how to balance safety and convenience
For the bank’s amount adjustment action, some netizens said: “online fraud is really hateful”, but some netizens said that “they are anxious to withdraw cash with money, and the result is limited”.
In this regard, Shanghai Pudong Development Bank Co.Ltd(600000) said in the announcement that if the customer’s account transaction prompts that it exceeds the transaction limit and there is a need to increase the non counter business limit, he can take his original valid ID card and bank card to any business outlet of the above branch for identity verification.
China Everbright Bank Company Limited Co.Ltd(601818) pointed out in the announcement that customers can independently modify the online payment transaction limit through China Everbright Bank Company Limited Co.Ltd(601818) sunshine life app “transaction limit setting” and customer service channels. If the online payment transaction limit has been adjusted before, it will not be affected by this adjustment, and the online transaction limit will remain unchanged.
Longhai rural commercial bank said that if you need to increase the payment limit of the account, please bring your valid identity documents to the bank’s outlets for a statement. After verifying and confirming that the purpose of the account is true and legal, the bank will adjust the account payment limit according to the actual needs of users.
According to Zhongxin Jingwei, in real life, how to balance customers’ capital security and convenience is also a challenge for banks. “Many banks have made good attempts. For example, after some banks reduce the transaction quota of their accounts, users can still withdraw the amount by online self-service. This quota setting has been able to meet the daily needs of ordinary users. If the quota is still insufficient, you can go to the outlet to apply for withdrawal, which can also meet the needs of a small number of large capital transactions.” Huang Dazhi, a researcher at Xingtu Financial Research Institute, said.
Wang Pengbo believes that in terms of security, banks should make more efforts in financial technology to improve the level of technical prevention and risk control, and users should avoid using their accounts by running points and money laundering platforms, and improve their awareness of fraud prevention at the same time.
