JD.com, Tencent, Financial Institutions Ally on Internet Finance Security
CCID, 11/05/15
JD Finance, the financial services subsidiary of Beijing-based B2C e-commerce platform JD.com (Nasdaq: JD), internet and mobile services firm Tencent (0700.HK), and a number of financial institutions have allied to establish the Online Financial Security Alliance, with the purpose of combining their risk management technology and strategies to maintain the security of the online finance industry.
China Everbright Bank, SPD Bank Credit Card Center, China CITIC Bank Credit Card Center, private bank Webank operator Qianhai Weizhong Bank, Bank of Beijing Consumer Finance Company, Payment and Clearing Association of China (PCAC), and the Beijing Public Security Bureau are also members of the Online Financial Security Alliance.
The Alliance will build and share three blacklists of offenders in the field of Internet finance, including scammers, merchants who provide "illegal cash-out services," and individuals who engage in other illegal activities. They will unite to prevent and eliminate all types of illegal actions and illegal enterprises in Internet finance.
According to the plan, members of the alliance will meet at regular intervals to research overall risk in Internet finance, individual members' risk, and possible solutions. They will seek to establish and put several systems in place, including an inter-member risk mechanism for researching and analyzing untrustworthy businesses and scam reports. The Alliance will also establish a mechanism for discussing and exploring risk management services and for creating an early warning system. All these measures will seek to improve members' abilities to identify and manage risks that may arise.
Keywords: Shanghai Pudong Development Bank China CITIC Bank Bank of Beijing Internet security Public Security Bureau Tencent Everbright Bank 0700.HK JD.com financial services PCAC JD WeBank JD Finance online banking
Sending
