ГРУПКОД-АНГ

Chinese bank accounts supervision has been launched: criteria for starting bank an account supervision - Zhejiang, Shenzhen and Hebei

According to Chinese media reports, a pilot project for the supervision and verification of bank accounts has begun to operate in China, Zhejiang, Shenzhen and Hebei were chosen to start.

 

Hebei Province has reportedly implemented additional bank account supervision for residents with account balances over 100,000 yuan, followed by Shenzhen, where the standard has been raised to 200,000 yuan. Zhejiang has a higher level of economic development, so he sets a large amount of 300,000 yuan. Residents of these three areas may be asked to contact the bank to register personal information if their bank account balance reaches the above figures.

 

Most people don't want their bank balances to be regulated and find it takes away their privacy. In the past, banks didn't care about people's personal account balances, and there were no restrictions on depositing and withdrawing money.

 

However, with the rapid development of the Internet, there are more and more cases of using the Internet to commit crimes in the banking industry, the reason for implementing this policy is also due to several reasons.

 

Let us consider the reasons for the introduction of such supervision and new checks based on the materials of the Chinese media.

 

The most important reason for this is to protect the safety of people's property, many residents keep most of their free money in the bank, so the safety of property in a bank account is especially important and this measure is very necessary.

 

Therefore, if the bank supervises the funds of residents when some large transfers are made, the supervisory system will react immediately and the bank will immediately intercept the funds or minimize property losses.

If this policy can be promoted, it will effectively reduce the incidence of fraud and ensure the safety of residents' funds.

 

At present, the number of banks in the Chinese market is large and the pressure of market competition is also large. When choosing a bank, most residents will consider state-owned banks more, they believe that investing in state-owned banks will be safer.

 

Consequently, these small local banks or private banks lack a certain degree of competitiveness, and these banks are small in size, their profitability is low, and they can accept fewer deposits, so the survival pressure is enormous. Perhaps this time the state will begin to control personal bank accounts, which will also enable these small banks to develop.

 

Previously, market surveillance in China was limited and many transactions were difficult to detect and control. If some people want to deliberately hide the capital transfer chain, this will create certain obstacles for the subsequent investigation by the relevant departments.

 

Therefore, in order to better disclose these gray transactions, it is necessary to monitor bank accounts. Therefore, it is also necessary to clearly investigate the transactions of funds in some accounts in order to avoid the phenomenon of gray transactions.

 

The introduction of such regulatory measures is also the result of taking into account the influencing factors of all parties, in any case, the advantages of such a policy outweigh the disadvantages. At the same time, citizens must believe that the primary goal of policy is to provide people with a better quality of life and is in the public interest.

TPL_IN
Created: 28 March 2022

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