CCB researcher: banks can now identify virtual currency transactions It is believed that payment institutions will improve their ability to identify abnormal transactions

According to the Securities Times on May 24, Cao Lei, a researcher and senior economist at the CCB Research Institute, introduced that banks can now complete the identification of customer transactions by means of big data, and for virtual currency transactions as well as settlements can mention numbers and warnings by means of the path of funds, the trading platform receiving the money, etc. Cao Lei said: “At present, banks follow the requirements of regulatory departments and national ministries to report the corresponding data and lists, if there are suspected persons in violation of the provisions of relevant national laws and regulations, banks will be required to ‘break the card’. And in accordance with the requirements of the public security organs to provide the corresponding evidence.” Cao Lei analysis from a technical point of view, said that, for the time being, through the process of virtual currency exchange of fiat currency, most of them are non-cash process, all will leave digital traces. Through the C2C model, although it may temporarily evade regulation, but in the financial institutions big data as well as artificial intelligence assistance, I believe that Alipay and WeChat and other payment institutions on the identification of abnormal transactions will improve, so as to lock the transaction and the suspect more quickly.

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