The Payment & Clearing Association of China (PCAC) issued its “2020 Payments and Settlement Illegal and Illicit Conduct Key Reporting Items” (2020年支付结算违法违规行为重点举报事项的公告) on 9 March.
The Reporting Items outline a total of eight areas that PCAC will focus on in 2020, including:
- Payments and settlement operations without a license;
- The provision of payments and settlement services for gambling and other illegal transactions;
- The provision of payments and settlements services for new forms of criminal conduct involve the telecommunications network;
- Conduct in breach of standards for barcode payment operations;
- Conduct in breach of acquiring business outsourcing regulatory provisions;
- Disturbing the order of the payments market, and infringing the lawful rights and interests of consumers;
- Disclosure of sensitive payments information, and participation in fraudulent conduct such as the counterfeiting of cards;
- Illegal amendment and malicious tampering with end terminal information.