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Regulatory Framework Established to Combat Telecom and Online Fraud
In a move to combat the growing menace of telecom and online fraud, the Chinese government has established a regulatory framework that will oversee the activities of banking institutions, non-banking payment institutions, telecommunications business operators, and Internet service providers.
Key Requirements Under the Framework
- Conduct personal information processing in accordance with the Personal Information Protection Law of the People’s Republic of China and other applicable laws.
- Strengthen personal information protection and establish a mechanism to prevent personal information from being used in telecom and online fraud.
- Carry out publicity campaigns against telecom and online fraud among staff and users, provide reminders on preventing telecom and Internet fraud, notify users of emerging telecom and online fraud, and give warnings on the legal liability for illegally trading, leasing, or lending their own relevant cards, accounts, and the like to be used for telecom and online fraud.
- Report any instances of telecom and online fraud to the authorities in a timely manner.
Penalties for Violations
- Prohibit entities or individuals from illegally trading, leasing, or lending telephone cards, Internet of Things cards, telecommunications lines, SMS ports, bank accounts, payment accounts, or Internet accounts, or providing assistance in real-name verification.
- Entities that have committed acts of telecom and online fraud may have their credit records recorded and be subject to various measures such as restricting the functions of their relevant cards and accounts, stopping offering non-counter services, suspending new services, and restricting Internet access.
Support for Research and Development
- Establish a system to support telecommunications business operators, banking institutions, non-banking payment institutions, and Internet service providers in the research and development of anti-telecom and online fraud technologies.
- Coordinate the development of technical countermeasures with relevant departments and promote the sharing of sample information and data on telecom and online fraud.
Alert and Dissuasion System
- Establish an alert and dissuasion system implemented jointly by public security organs, departments of finance, telecommunications, and cyberspace administration to dissuade potential victims from falling prey to telecom and online fraud.
Pursuing Illegal Proceeds and Recovering Losses
- Establish a system to pursue illegal proceeds and recover losses in cases of telecom and online fraud.
- Victims who suffer from severe difficulties in life may be eligible for assistance under applicable regulations.
The framework is part of China’s ongoing efforts to combat telecom and online fraud, which has been a major concern for citizens and businesses alike. The government has also taken steps to prevent the spread of fraudulent activities through international cooperation and information sharing.
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