The People's Bank of China and the Ministry of Public Security of China jointly held a press conference on their special action to fight crimes involving bank cards.
Ouyang Weimin, director for the Payment System Department of PBC, said at the conference that in regard to the frequent illegal credit card activities in China and the lack of legal basis in this sector, the government is currently engaged in working out a legal framework to fight illegal credit card activities.
Ouyang says at present, the PBC, the Ministry of Public Security and China UnionPay are cooperating with the Supreme People's Court of China and the Supreme People's Procuratorate of China to launch judicial interpretations of the law for fighting illegal credit card crimes and the illegal credit card cashing agencies that help fuel this criminal behavior. At the same time...
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