Central bank survey WeChat payment security issues did not take the user real name system violations

, according to WSJ reports, China’s central bank confirmed on Thursday, received a written report from a Shanghai lawyer, will focus on the investigation of the Tencent Holdings Ltd, and will be dealt with according to law. Reported that the material, Tencent’s WeChat payment services did not comply with the new safety regulations.

in July 1st this year, China’s central bank issued a non bank payment institutions online payment service management approach. The day before, Beijing’s lawyer Wang Yujia to submit a written report, WeChat said the payment did not follow this new regulations on user authentication.

the provisions of the second chapter of the relevant provisions of the "customer management":

Payment institutions should follow the "know your customer" principle, establish and improve the customer identification mechanism. Payment institutions to open payment accounts for customers, should be the real name system to manage customer registration, and take effective measures to verify the identity of customers basic information required to check the valid identity certificate and retained valid Id photocopy, establish customer identification only encoding, and adopt continuous identification measures during the business relationship with customers to ensure the effective duration to verify the identity of customers and their true will, not open anonymous, pseudonymous payment account.

the provisions of the relevant provisions of the fourth chapter of "customer equity" also pointed out:

Payment institutions shall fully respect the client’s right to choose independently, shall not force the customer to use the payment services provided by the institution, and shall not impede the use of payment services provided by other institutions.

from these two provisions, WeChat seems to pay irregularities. In the central bank on the interpretation of the provisions of the relevant responsible person made it clear that:

currently, Payment institutions online payment business faces many problems and risks, we must attach importance to and regulate:

is a customer identification mechanism is not perfect, provides an opportunity for fraud, cash and money laundering risk;

two is based on the payment account based on the rapid development of cross market business, the precipitation of a large number of customer funds, increased liquidity management pressure and cross market transaction risk;

three is a relatively weak sense of risk, there is a lack of customer capital security and information security mechanisms;

four is the need to strengthen the protection of customer rights, there are exaggerated propaganda, false promises, consumer rights and other issues.

WSJ article said, a spokesman for the Tencent declined to comment on the relevant reports and the Chinese central bank survey.

, according to WSJ reports, China’s central bank confirmed on Thursday, received a written report from a Shanghai lawyer, will focus on the investigation of the Tencent Holdings Ltd, and will be dealt with according to law. Reported that the material, Tencent’s WeChat payment services did not comply with the new safety regulations.

in July 1st this year, China’s central bank issued a non bank payment institutions online payment service management approach. The day before, Beijing’s lawyer Wang Yujia to submit a written report, WeChat said the payment did not follow this new regulations on user authentication.

the provisions of the second chapter of the relevant provisions of the "customer management":

Payment institutions should follow the "know your customer" principle, establish and improve the customer identification mechanism. Payment institutions to open payment accounts for customers, should be the real name system to manage customer registration, and take effective measures to verify the identity of customers basic information required to check the valid identity certificate and retained valid Id photocopy, establish customer identification only encoding, and adopt continuous identification measures during the business relationship with customers to ensure the effective duration to verify the identity of customers and their true will, not open anonymous, pseudonymous payment account.

the provisions of the relevant provisions of the fourth chapter of "customer equity" also pointed out:

Payment institutions shall fully respect the client’s right to choose independently, shall not force the customer to use the payment services provided by the institution, and shall not impede the use of payment services provided by other institutions.

from these two provisions, WeChat seems to pay irregularities. In the central bank on the interpretation of the provisions of the relevant responsible person made it clear that:

currently, Payment institutions online payment business faces many problems and risks, we must attach importance to and regulate:

is a customer identification mechanism is not perfect, provides an opportunity for fraud, cash and money laundering risk;

two is based on the payment account based on the rapid development of cross market business, the precipitation of a large number of customer funds, increased liquidity management pressure and cross market transaction risk;

three is a relatively weak sense of risk, there is a lack of customer capital security and information security mechanisms;

four is the need to strengthen the protection of customer rights, there are exaggerated propaganda, false promises, consumer rights and other issues.

WSJ article said, a spokesman for the Tencent declined to comment on the relevant reports and the Chinese central bank survey.

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