CRI:

Mr. Yue just mentioned the Law on Combating Telecom and Online Fraud formulated last year. I want to inquire further about the reasons behind its formulation and the specific measures it provides for combating telecom and online fraud. Thank you.

Yue Zhongming:

Thanks for your question. Telecom and online fraud has been rampant, and the general public hates it. The Law on Combating Telecom and Online Fraud, which was enacted last year, adheres to a problem-oriented, result-oriented and precise prevention approach. The law strengthens the systematic concept, pays attention to the source of treatment and comprehensive treatment, and carries out the comprehensive management of the whole chain of personnel, information, technology and funding chains related to telecom and online fraud. The main systems and measures include the following five aspects.

First, we have strengthened the responsibilities of all sectors. The responsibilities of each department, each unit, and each link have been clearly defined, and strict legal action will be taken against those who fail to fulfill their duties.

Second, we have intensified punishment. We have built comprehensive measures to punish and prevent criminals involved in telecom and online fraud and crack down on all kinds of illegal and semi-legal industries engaged in fraud.

Third, we have strengthened industrial governance. We have made institutional provisions for the outstanding problems reflected in each chain and each link. We have closed loopholes, established rules and regulations, and also stipulated corresponding responsibilities and penalties for non-performance of industry governance obligations.

Fourth, we have strengthened countermeasure technology. We have promoted sharing risk information and providing technical support for combating and curbing illegal and criminal activities.

Fifth, we have adhered to joint management and coordination. We have mobilized the forces and resources of all sectors of society, clarified responsibilities, and created a strong anti-fraud atmosphere in the whole society. Thank you.