On May 28th, China UnionPay stated that the “UnionPay 62 Festival” was imminent. In order to effectively put more efforts to benefit the people to more users, it targeted malicious arbitrage of the professional “Yellow Party” and harmed consumers and merchants. China UnionPay took multiple measures to resolutely crack down on the behavior of rights and interests.
Since mid-April, China UnionPay’s “Revitalize Engine” plan to help business and benefit people has been fully launched. Up to now, the number of Huimin merchants nationwide has exceeded 880,000, and more than 50 million users have received Huimin subsidies.
According to reports, the measures China UnionPay will take include strengthening the authenticity verification of users and merchants, preventing false users and fake merchants from participating in Huimin activities, and protecting the benefits of Huimin subsidies. Safe landing; strengthen the monitoring of merchants ‘abnormal transactions, automate the setting of preferential quotas, enable users’ real-time detection and interception functions, introduce advanced risk control tools to carry out auxiliary judgments, shorten the frequency of automated monitoring to the minute level; strengthen the participation arbitrage or arbitrage Merchants with improper management dispose of them, and carry out recovery and accountability according to the degree of violations, and restrict users who are identified as professional “Huang Niu Dang” from participating in follow-up activities carried out by UnionPay.
It is understood that China UnionPay has always maintained a zero-tolerance attitude towards marketing malicious arbitrage. It was the first to build the bank’s first batch of ox party lists and an automated ox detection and interception system. In 2019, the system successfully intercepted more than 10 million arbitrage transactions in real time. Since 2020, China UnionPay and the local police have cracked many illegal cases of using cloud flash to pay for preferential arbitrage. Through its efforts in recent years, UnionPay has effectively curbed the arbitrage of cattle in Huimin activities.
The person in charge of China UnionPay stated that it will continue to improve the risk control identification model, upgrade the functions of the prevention and control system, and continue to strengthen its career through multi-dimensional control of marketing products The detection, identification, and prevention efforts of the “Yellow Party” continue to cooperate with public security organs in cracking down on illegal behaviors such as malicious trading of account arbitrage, helping to create a good business environment.
(Originally titled “China UnionPay has completed the first batch of yellow cattle party list banks in the banking industry”)