Recently, the Internet Finance Association of China issued the "Initiative on Strengthening the Coordination of the Internet Finance Industry and Maintaining the Normal Order of the Industry", calling on the cohesion of industry forces to jointly resist the infringement of black and gray industries, ensure the normal operation of practitioners, protect the legitimate rights and interests of consumers and practitioners, and maintain the normal order of the industry.
In recent years, criminals have illegally sought profits through illegal activities such as illegal agency rights protection, anti-collection alliances, and organized debt evasion, and through the Internet and other platforms, they have attracted attention with gimmicks such as so-called "law popularization", "debt restructuring" and "credit repair", and then committed financial fraud on the grounds that they need to pay various processing fees.
Relevant state departments and financial supervision departments have been rectifying black and gray production. In March 2022, the National Development and Reform Commission issued the Notice on Focusing on the Special Governance of the "Credit Investigation Repair" Problem, which will deceive market entities and individuals through false publicity, instigation of unreasonable appeals, material fraud, malicious complaints, etc., and seriously disrupt the market order to carry out special governance by defrauding market entities and individuals through false publicity, instigation of unreasonable appeals, material fraud, malicious complaints, etc. In August of the same year, the General Office of the former China Banking and Insurance Regulatory Commission issued the Notice on Further Strengthening the Rectification of Complaints by Consumer Finance Companies and Auto Finance Companies, requiring severe crackdowns on illegal agency of illegal property and serious investigation and punishment of fraud in the name of "credit repair, whitewashing, bill shoveling, credit investigation objection complaint consultation, and agency".
Financial institutions are also taking action to crack down on illegal black and gray production and protect consumer rights. Recently, Xinwang Bank found that customers Deng and Dan were suspected of malicious complaints, and immediately reported clues to the local public security organ. The Liaocheng police quickly verified Deng's criminal facts and arrested the criminal suspect Deng, who confessed to the facts of the crime. The police station in Dan's jurisdiction has also been dealt with by the case, and the case is still being further investigated.
On July 6, at the 2023 2nd China Retail Finance Anti-fraud Development Forum held by Tsinghua University, Xinwang Bank and UnionPay Data led the way, and many financial institutions actively participated in the construction of a financial anti-fraud cloud platform and established the Financial Anti-fraud Cloud Alliance.
With the strong support of the Criminal Investigation Bureau of the Ministry of Public Security, through the secure sharing of data between financial institutions, it can realize pre-loan blocking, post-loan joint crackdown, precise publicity and prevention of new sub-types of crimes such as telecommunications network fraud, bad agency complaints, illegal loan intermediaries, and organized debt evasion, maintain the stability and healthy development of the financial market, and crack down on illegal agency rights protection and other financial black industries.
In the first half of 2023, Xinwang Bank intercepted nearly 1,000 telecom frauds, with a stop loss amount of tens of millions of yuan. Up to now, Xinwang Bank has promoted public security organs across the country to accept or file dozens of cases of black and gray industry gangs, assisted the Chengdu police in destroying several dens and group cases, and arrested more than 100 criminal suspects at one time.