The China Financial Certification Association, in cooperation with 16 commercial banks, has established an online banking anti-fraud mechanism in the hope of providing a better online banking environment for consumers.

The 16 banks are Industrial and Commercial Bank of China, Agricultural Bank of China, China Construction Bank, Bank of Communications, CITIC Bank, China Everbright Bank, Huaxia Bank, China Minsheng Bank, China Merchants Bank, Guangdong Development Bank, Shenzhen Development Bank, Shanghai Pudong Development Bank, Industrial Bank, Beijing City Commercial Bank, Nanjing Bank, and Tianjin Bank.

Their joint mechanism includes building an online banking blacklist to be shared among them and constructing a joint investigation mechanism under which banks conduct investigations when there are safety problems in order to help reduce users' losses. In addition, each of the banks will set up an online banking risk prevention mechanism, keeping close watch over the latest technology regarding security and organizing periodic seminars and forums to discuss their service and risk controls.

China's Ministry of Public Security uncovered more than 3600 cases regarding online account or information theft in 2006.