How Safe Is Internet Banking in China?
Internet banking has caught on in China thanks to its speed, ease and efficiency for customers. However, an increasing number of clients in China have begun to question its security. A client in Shanghai is one of them. As soon as Mr. Tang learned he had lost 30,000 yuan, or USD3,800, in his bank account through six online transfers, he went to inquire about these suspicious transactions at the bank. After he was told someone infiltrated his bank accounts and stole his money, but the bank wouldn’t claim any responsibility, the angry customer brought a court case against the bank. Many people have encountered similar experiences even though some of them may have never used Internet banking services. The China Business Post reports nearly 1,000 people have become victims through this convenient service in 2006 in relatively developed areas, including the municipalities of Beijing and Shanghai and in Guangdong and Jiangsu provinces. How can crooks break into online bank accounts? A Kingso
