Chinese bank to launch campaign over illegal trading of bank card information

Chinese bank to launch campaign over illegal trading of bank card informationChina is planning to crack down on illegal trading of bank card information as a result of significant rising of card transactions and total trading value in 2015, Chinese central bank announced on Monday.

Financial system is under thread because of different illegal activities with bank card information, according to a notice issued by six government agencies, including the Ministry of Public Security and the China Banking Regulatory Commission.

China's bank card transactions in 2015 rose 43.07 percent and total trading value was up 48.88 percent, with the latter reaching 669.82 trillion yuan ($100.3 trillion), the People's Bank of China (PBOC) said in a question and answer posted on its website alongside with the notice.

The PBOC is trying to intimidate criminals who illegally trade bank card information, and to prevent bank card information from leaking across all platforms.

The PBOC will start special operations in six areas during the crackdown campaign. They include investigating crime cases, cracking down on phishing websites and apps, and screening potential loopholes in banks, payment agencies, websites and key companies that store a "considerable amount of personal information".

The hole campaign, which promised to be nationwide, would last from September to April.
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