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.


  1. Sir,

    A clarification is required on a certain transaction to be made thru China Merchants Bank, Asia Pacific. Can this be discussed. pls advise urgently.


  2. I intend to place big orders around US $ 60,000 with 30 % advance payments, and balance against copy of B/L. In case the Chinese supplier does not make supplies, and ignores all mails from us, or makes wrong, defective, and short supplies, how do I protect one against the 30 % advance paid, or against disputed supplies, which are the agencies to be coplained to, and what is practical, economical procedure to get regund or compensated. Filing a court suit is practically worthless considering the small amount – from international standards of say US $ 20,000 or even 60,000 – but huge amount from my standards. Name the agencies, police or vigilance agencies, and how effetive are each one in such a case. Embassies in China or exorting companies normally donot care.


Please enter your comment!
Please enter your name here