CBRC calls for more security on internet

Mainland lenders must enhance internet banking security to avoid users' confidence being affected, said China Banking Regulatory Commission in a statement on its website. The mainland banking regulator suggested banks impose security measures such as authentication, and inform public immediately whenever a fraudulent website or e-mail was found. Electronic banking in the mainland has grown rapidly, with a total transaction value of 122 trillion yuan last year, up 101.48 per cent from 2005, of which internet banking rose 80.79 per cent to 95 trillion yuan.