has been operating in ATM transfer policy for more than two years, and is now undergoing major adjustments. On March 28, a reporter from Red Star News learned that the People's Bank of China recently issued the "Notice of the People's Bank of China on Further Strengthening Payment and Settlement Management to Prevent New Illegal and Crimes in Telecom Networks" (hereinafter referred to as the "Notice"). The "Notice" states that if the customer confirms the information of the payee and clearly knows that it is timely accruals, the bank no longer has to implement the regulations that it must be received 24 hours later.
High voltage on telecommunications network crimes
In recent years, new types of telecommunications network crimes have shown a high incidence, and the situation is severe, seriously affecting the legitimate rights and interests of the public. According to Guangming Daily, since the special rectification campaign was launched in November 2015, a total of 315,000 telecommunications fraud cases were cracked nationwide within three years, 146,000 illegal and criminals of telecommunications fraud were investigated and dealt with, the procuratorate approved the arrest of 79,000 people, prosecuted 77,000 people, and seized stolen money and goods equivalent to RMB 4.74 billion. In order to prevent new types of illegal and criminal acts in telecommunications networks, on September 23, 2016, the Supreme People's Court, the Supreme People's Procuratorate, the Ministry of Public Security, the Ministry of Industry and Information Technology, the People's Bank of China, and the China Banking Regulatory Commission jointly issued the "Notice on Preventing and Combating Telecommunications Network Fraud Crimes."
On the evening of September 30, the People's Bank of China issued the "Notice of the People's Bank of China on Strengthening Payment and Settlement Management and Preventing New Types of Illegal and Crime in Telecom Networks", commonly known as Document No. 261. The notice requires that from December 1, 2016, in addition to transferring money to your own bank account, if an individual transfers through a self-service teller machine (including other self-service equipment with deposit and withdrawal functions), the issuing bank will apply for a fund transfer 24 hours after acceptance. Within 24 hours after the card issuing bank accepts the card issuing bank, individuals can apply to the card issuing bank to cancel the transfer. A relevant person in charge of the central bank said at the beginning that this was done to prevent the unscrupulous people from accidentally transferring the money to criminals and causing financial losses.
no longer forcefully requires it to arrive in 24 hours
It should be said that this setting of the central bank has indeed played a role in protecting the safety of public funds. However, this "one-size-fits-all" approach has indeed affected the efficiency of ordinary people in daily transfers to a certain extent.
Red Star News reporter learned on March 28 that the central bank pointed out in Article 11 of the latest "Notice" released by the People's Bank of China pointed out that "when banks handle business for individuals through self-service teller machines, they can display the payee's name, account number and transfer amount in Chinese on the transfer acceptance interface (including foreign language interface) and clearly remind the business to arrive in real time and be confirmed by the customer. If the above requirements are met, the "People's Bank of China on Strengthening Payment and Settlement Management" may no longer be implemented. Notice on Preventing New Illegal and Crimes in Telecom Networks" (Yinfa [2016] No. 261) The eighth item on the provisions of self-service teller machine transfers to arrive 24 hours after transfer. Banks are encouraged to use multi-factor identity authentication methods such as biometric identification in self-service teller machines, and actively explore payment services that take into account both safety and convenience. "
Red Star News reporter learned that this means that whether it is a peer or cross-bank, whether it is transferred to an account under your own name or to others, as long as you confirm the relevant information of the other party and make it clear that it is a real-time transfer, commercial banks do not need to transfer money within 24 hours. In other words, the transfer can be completed in real time. If it is a non-real-time transfer business, the central bank also pointed out in the "Notice" that from June 1, 2019, for customers who choose non-real-time transfer business such as ordinary arrivals and next-day arrivals, the bank and payment institution shall clearly state the non-real-time transfer business in the processing result receipt or interface that the business is not real-time.
Improve the emergency stop payment and rapid freezing mechanism
0 The latest "Notice" of the central bank mainly provides requirements in terms of improving the emergency stop payment and rapid freezing mechanism, strengthening the real-name account management, strengthening transfer management, strengthening the management of special merchants and acceptance terminals, extensive publicity and education, and implementing account account account account account account account account management, strengthening the management of transfer, strengthening the management of special merchants and acceptance terminals, extensive publicity and education, and implementing accountability.
Red Star News reporter learned that in terms of improving the emergency stop payment and rapid freezing mechanism, the central bank requires that from June 1, 2019, banks and non-bank payment institutions shall immediately handle the account inquiries, stop payment and freezing services initiated by public security organs and meet the requirements and promptly provide feedback.
Banks and payment institutions shall establish a 7*24-hour emergency contact mechanism for account inquiry, stop payment, and freeze 7*24 hours a day, set up an AB corner, and submit the emergency contact name, contact information and other information to the public security organ of the legal person before April 1, 2019.
6 From 1st, individuals can change their account
In terms of account real-name management, Red Star News reporters learned from the "Notice" that it is necessary to optimize personal bank account change and revocation services. Starting from June 1, 2019, banks shall provide individuals with services for domestic branches to handle account changes and revocations across branches. At the same time, when a customer opens an account at a bank or payment institution, he or she should inform the customer of the relevant legal responsibilities and punishment measures for renting, lending, selling, and purchasing an account in a conspicuous position of the application form.
Opening an account with an impersonation. New accounts are prohibited within 5 years.
The "Notice" also requires the increase in the punishment for buying and selling bank accounts, payment accounts, and opening an account with an impersonation. Starting from April 1, 2019, banks and payment institutions shall suspend non-counter business of their bank account and all payment accounts for institutions or individuals who rent, lend, sell, or purchase bank accounts (including bank cards) or payment accounts recognized by public security organs at or above the prefecture-level municipal level or above, and shall not open new accounts for them within 5 years.
It is also understood that the "Notice" also requires strengthening the audit of account opening for unit payment accounts, improving account password security management, carrying out batch verification of existing accounts, and completing the verification work before June 30, 2019.
Red Star News Reporter Yang Bin
Editor Chen Yanni
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