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    China passes new law to fight telecommunications and online fraud

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    BEIJING, Sept. 2 (Xinhua) — Chinese lawmakers voted on Friday to pass a new law on telecommunications and online fraud, which will take effect on Dec. 1, 2022.

    Lawmakers approved the law during the legislative session of the Standing Committee of the National People’s Congress which ended on Friday.The law, consisting of 50 articles divided into seven chapters, provides strong legal support to combat telecommunications and online fraud .The legislation aims at the establishment of a preventive legal system and the formation of an industry-wide and society-wide system to prevent and combat fraud in telecommunications and online.Defining the respective responsibilities of departments, businesses and local governments in preventing and combating telecommunications and online fraud, the recently passed law stipulates that the d departments and organizations should act in concert with each other and facilitate prompt cross-industry and cross-regional coordination and cooperation in order to effectively curb such illegal activities.Telecommunications service providers are required to record the real identity of phone users in accordance with the law, said the law.Financial institutions and non-bank payment service providers should implement a customer due diligence system when opening bank and payment accounts and providing payment and settlement services, and should also identify beneficial owners in accordance with law and take risk management measures to prevent bank and payment accounts from being used for fraudulent purposes, in accordance with the law.Telecommunications service providers must not t issue new SIM cards to those who have already reached their limit in terms of number of registered cards and should re-verify applicants if they detect abnormal conditions.Financial institutions and payment service providers not banks also have the right to verify the identity of customers or refuse to open service accounts for them under similar conditions, in accordance with the law.

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