Electronic Banking Services in China: New Developments and Security Protection

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clpstaff &clp articles

The range of electronic banking services provided by PRC financial institutions has widened to cater to the needs of increasingly technology-driven and sophisticated banking customers. What measures have been taken to protect the security of e-banking systems in China?

By Philip Gilligan, Deacons Hong Kong

In response to rapid technological developments, increased demand for new forms of banking and the inherent risks associated with electronic banking (e-banking), the China Banking Regulatory Commission (CBRC) recently promulgated the Measures for the Administration of Electronic Banking Business (the Measures) and the Guidelines on E-banking Security Evaluation (the Guidelines), effective from March 1 2006.

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