Protecting the rights and interests of financial consumers is a concrete manifestation of the financial industry's practice of the people centered development idea. With the increase of the scale of financial consumers, the protection of the rights and interests of financial consumers has assumed an increasingly important mission. Since the official implementation of the Law of the People's Republic of China on Anti Telecommunication Network Fraud on December 1, 2022, CITIC Bank has thoroughly practiced the political and popular nature of financial work, relying on the online "Sentinel" anti fraud system and cooperating with local public security organs to carry out joint prevention and control, and launched a powerful early warning, interception and other whole process crackdowns on financial fraud, It has been praised and rewarded many times by the People's Bank of China and the public security organ.

"Sentinel" precisely identifies money laundering accounts, and police and bank cooperate to combat crime

On August 17, 2023, the "Sentinel" anti fraud system of CITIC Bank identified the abnormal transaction of customer Chen, and immediately implemented control. Later, Mr. Chen took his bank card to a branch of China CITIC Bank to apply for deregulation, and said that his father was in an emergency condition and needed to pay medical fees as soon as possible. When conducting preliminary due diligence on customers, the sub branch found that they were nervous and there were major doubts in the submitted materials, and immediately applied to the Head Office's anti fraud team to start the verification process.

After verification, Mr. Chen has suspected money laundering consumption and forged invoices in two jewelry merchants. In order to prevent him from continuing to commit crimes in other financial institutions, CITIC Bank immediately reported to the local public security organs and the National Anti Fraud Center. After verification by the public security, the two jewelry merchants were confirmed as money laundering dens, and they were immediately subject to judicial freezing to avoid large-scale transfer of fraudulent funds. CITIC Bank was awarded by the public security organ.

Offline initiative as joint prevention and control to prevent illegal fund transfer in time

On October 9, the customer Lan went to a branch of CITIC Bank to apply for withdrawing 1 million yuan of cash on the ground that his cousin needed a betrothal gift for marriage. Considering that the marriage of relatives is not an emergency, Lan's unusual urgency caused the counter staff to be alert.

When handling business, the counter personnel recognized that the account of Lan was not opened locally, and immediately withdrew cash after several recent transfers of large amounts of funds. During the period, they also constantly guided others to handle cash withdrawal business in other banks on the basis of relatives' wedding lottery gifts, which was suspected of transferring illegal funds. The counter staff declined the customer on the ground that it was necessary to further verify the authenticity of the transaction, and immediately contacted the local police. The police comprehensively reported the information to determine that Lan was suspected of money laundering, and then deployed the arrest action. On October 10, the police, with the cooperation of the bank outlets, successfully controlled Lan, and detained the large amount of cash he withdrew. A total of 4.518 million yuan of illegal funds were seized.

Take multiple measures to build an intelligent anti fraud risk control system

In the face of the increasingly collectivized and specialized external fraud situation, CITIC Bank has taken multiple measures to build a three-dimensional "sentry" intelligent anti fraud risk control system covering pre event, in-process and post event, accurately identify and control telecom fraud transactions, and ensure the safety of customer funds.

The dynamic limit control of high-risk accounts is carried out in advance based on the full life cycle account risk classification management system. The identification and control of suspicious transactions were strengthened through online fraud early warning model, offline joint prevention and control, and the funds involved in suspicious cases were intercepted. After the event, the investigation and disposal of abnormal accounts were carried out, the clues of suspicious cases were timely sent to the People's Bank of China and the public security organ, the public security organ was assisted in catching the suspects of wire fraud, and the customer's anti fraud awareness was improved through regular anti fraud education and customer safety education.

In recent years, CITIC Bank has investigated and controlled more than 80000 suspicious accounts involving fraud, intercepting more than 1.5 billion yuan of funds; We assisted the national public security organs in arresting more than 1400 suspects, controlling more than 1 million potential victim accounts, and protecting nearly 700 million yuan.

In the future, CITIC Bank will continue to adhere to the people centered development idea, practice the brand concept of "making wealth warm", continue to strengthen the police bank linkage, increase anti fraud publicity, continue to crack down on telecommunications network fraud, and earnestly act as a strong defender of the legitimate rights and interests of financial consumers.

Source: China CITIC Bank

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Second instance Ren Yong

Third instance Chen Qianxi