The State Administration of Financial Regulation reminds that there are no "principal guaranteed high interest" wealth management products
The State Administration of Financial Regulation reminds that there are no "principal guaranteed high interest" wealth management products
Currently, there are frequent cases of fraudulent online investment and financial management, which harm consumer rights and disrupt the order of the financial market. To this end, the State Administration for Financial Supervision and Administration of China has issued a consumer rights protection risk warning, reminding consumers to be highly vigilant against such fraud and beware of property losses.
False online investment and financial fraud are usually carried out through the following three channels:
Step 1: Attract consumers with false advertising of "guaranteed principal and high interest". Criminals use concepts such as bond investment, stock investment, precious metal investment, futures investment, P2P investment, and foreign currency investment to launch so-called "investment and wealth management tools". They publish messages on online platforms claiming to "make a steady profit without losing" and attract consumer attention with gimmicks such as high rebates, monthly rebates, and maintaining cash flow.
Step 2: Use "expert insider" false information to induce investment. Criminals add consumer friends through social media, pull them into "investment" group chats, and then impersonate investment mentors and financial experts, using "investment rich cases" and "live classes" to gain consumer trust, or using dating platforms to establish marriage relationships with consumers, and then using "internal information", "member channels", "special resources" and other methods to lure consumers into participating in investments.
Step 3: Transfer funds through a false platform of "investment rebate". Criminals use forged or counterfeit investment platforms to send false links to consumers, guide them to download apps for investment, and use small investment rebates as bait to continuously guide consumers to increase their financial investment. Subsequently, illegal elements quickly transferred funds and even took advantage of consumers' eagerness to withdraw, collecting so-called "deposits" and "unfreezing funds" under the pretext of "abnormal login", "server maintenance", "bank account freezing", etc., further expanding consumer financial losses.
The losses caused by such fraud are enormous, and there are many victims. To protect the legitimate rights and interests of consumers, the State Administration for Financial Supervision and Administration reminds:
1、 There is no "principal guaranteed high interest" financial product. According to the Guiding Opinions on Regulating the Asset Management Business of Financial Institutions, which were officially implemented on January 1, 2022, financial institutions are not allowed to promise to "maintain principal and return" when carrying out asset management business. Consumers should recognize that bank wealth management, funds, trusts, futures, etc. are not deposits. High returns mean high risks, and "guaranteed principal and high interest" and "expert guarantees" are common tricks for fraudulent online investment and financial fraud. They should be vigilant.
2、 Do not trust the unknown "hearsay". When consumers engage in investment and wealth management, they should first choose financial institutions that have been approved and licensed by financial regulatory authorities. They should not trust "gossip" spread through online forums, WeChat groups, QQ groups, etc., as well as institutions or personnel without legal qualifications. If there are any doubts about financial business, they can be verified through official websites, hotlines, etc. of financial institutions or regulatory authorities.
3、 Don't be tempted by small gains and lose the big. Consumers should establish a scientific and rational investment and financial management concept, and avoid a mentality of luck and gambling. Be vigilant about inducing investment behavior through informal online channels such as unfamiliar phone calls and email sales, do not click on unknown links or scan QR codes at will, and do not easily authorize unofficial APP usage agreements; Refuse to share real-time location and photos containing identity information with strangers to avoid economic losses caused by information leakage.
In short, consumers should cultivate a correct investment philosophy, enhance risk prevention awareness and information screening ability, and avoid giving opportunities to criminals due to personal information leakage. If accidentally deceived or encountering suspicious situations, key information such as chat records, transfer records, and bank accounts should be kept in a timely manner, and the case should be reported to the local public security organs as soon as possible to protect one's own rights in accordance with the law.