The bank will monitor any abnormal credit card consumption.
Generally speaking, China’s current credit system is not perfect enough. Merchants and individuals will indeed encounter corresponding risks when using the system. Therefore, in order to protect the safety of funds and the interests of cardholders, banks Risk control will be carried out on credit cards.
Banks use online transaction monitoring to identify credit card risks, which generally means that banks use machines to monitor and operate, collect relevant information such as education, age, debt, and employment of credit card holders, and check the cardholders Specific behaviors such as time, amount, location, number of transactions, etc. of using the credit card, and then use the relevant risk formula to refer to the weight. If the cardholder's weight is abnormal, the credit card will be discovered by the bank, thus avoiding fraudulent use of the credit card. Condition.
The bank is just a financial institution and does not have the right to interfere too much with the consumption behavior of merchants and individuals. Therefore, many times, when banks find out which credit card transactions are risky, they compare and check the risk data. For example, refer to previous credit card risk cases, or see whether the merchant itself is normal, and whether there are abnormalities in the cardholder's credit card, etc. through a series of data comparisons.
For example, your credit card is often used for domestic consumption, and then one day your credit card is used for domestic consumption in the morning and evening, and suddenly a large-scale transaction occurs at noon and is conducted abroad. Or in high-risk areas for credit card transactions, such as some countries in Southeast Asia where card theft is too high, then banks will basically consider this credit card to be risky.
In this case, the bank staff will generally call you to confirm, or help you block the card to reduce the loss of property held by the card. If your credit card is at risk and it is likely to endanger your property, you can follow the bank staff's advice to cancel the card or replace it. If you feel that this is too troublesome, you can also change the consumption password for your credit card and then limit the consumption amount to protect your property.
What is the standard for frequent personal bank card transfers?
According to the "Anti-Money Laundering Law of the People's Republic of China", "Anti-Money Laundering Regulations of Financial Institutions", etc., it is not just banks, All financial institutions are required to meet anti-money laundering obligations. If personal bank card transfers are frequent and the turnover is too large, it is obviously not consistent with common sense. The bank will monitor it on a daily basis. Once discovered, it will be reported to the China Anti-Money Laundering Monitoring and Analysis Center in accordance with the "Management Measures for Reporting of Large-Amount Transactions and Suspicious Transactions by Financial Institutions". The so-called "frequent" means that transactions occur more than three times a day on a business day, or a business day lasts for more than five days.
For "frequent" transactions, the bank monitoring center needs to identify them, and if they are compliant, they will be released. If the transaction is ultimately determined to be non-compliant, the bank must adjust the status of the personal bank card to abnormal, block the card, and stop using it, otherwise it will be punished by the People's Bank of China.
And the People’s Bank of China imposes very severe penalties on financial institutions. It not only punishes banks, but also punishes relevant responsible persons of banks, implementing a “double penalty system”. According to statistics, among the anti-money laundering penalties in 2017 , calculated in terms of the number of penalties, penalties targeting both the obligated unit and the relevant responsible persons ("double penalty system") accounted for 73% of all penalties.
What should I do if the status of my personal bank card is changed to abnormal by the bank?
As a bank, customers are free to deposit and withdraw money, and the bank cannot change the status of personal bank card to abnormal for no reason. If a personal bank card is adjusted to abnormal, it must be that the cardholder is indeed suspected of money laundering, illegal fund-raising, or abnormal transactions in the use of the bank card. The bank will adjust the bank card status to abnormal based on identification standards and relevant regulations. It is almost certain to say that this kind of abnormal bank card has basically certain irregularities.