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The police and banks cooperated in a “thunder attack” and Industrial Bank Tianjin Branch successfully intercepted large-amount cross-border electronic fraud funds.

The police and banks cooperated in a “thunder attack” and Industrial Bank Tianjin Branch successfully intercepted large-amount cross-border electronic fraud funds.

  72 hours, $380,000!Recently, Industrial Bank Tianjin Branch passedThe police and banks cooperate closely and coordinate with the head office and branches toThe Anti-Fraud Center of the Tianjin Municipal Public Security Bureau intercepted a large-scale cross-border fraud-related fund remittance and successfully recovered the defrauded funds in full.

On February 28, 2024, a customer remitted an amount of US$380,000 overseas. After confirming with the customer that the payment information was correct, the branch handled the foreign exchange purchase and payment procedures. On March 5, the customer suddenly reported to the account manager that the payment information was incorrect and the account could not be credited abroad. He applied to the bank to send a stop payment message and requested that the funds be remitted. The transaction banking department (international business department) of the branch applied to the head office on March 5, 2024 in accordance with the customer’s requirements, and the head office issued a stop payment application message on the same day.

On March 6, the customer once again reported to Tanggu Branch that the foreign payee may be suspected of fraud and has reported the case to the public security agency. The Anti-Fraud Center of the Tianjin Public Security Bureau immediately established a police coordination task group and ordered the Binhai New Area Public Security Bureau to dispatch police officers to deal with the incident. In accordance with the customer’s request, the branch once again expedited the processing and entrusted the head office to send a stop payment application message abroad on the grounds that the other party was suspected of fraud. At the same time, the Tanggu Sub-branch reminded customers to use an American intermediary company to handle relevant security measures abroad. Customers reported that the American intermediary company had reported the case to the relevant U.S. anti-fraud agencies. At 22:20 that night, in order to cooperate with the municipal bureau’s anti-fraud center in handling the case, Tianjin Branch urgently established a special police-bank processing center and arranged a dedicated person to follow up in real time to cooperate with the public security organs in carrying out account control and fund stop payment. After verification, the customer’s money is still being transferred to the bank account and has not yet been actually credited. However, due to time differences, the remittance bank is in a non-business processing state and cannot further stop payment for the time being.

At around 7:00 on March 7, the Branch Police Bank Special Disposal Center verified that the fraudulent funds had been intercepted by the remittance bank, and the safety of the funds was guaranteed. Subsequently, the Branch Security Department, in conjunction with the Transaction Banking Department, started follow-up work on the return of funds. At around 16:05 pm on March 8, the defrauded funds were fully returned to the customer’s account from the intermediary bank (Citigroup New York) through the head office.

This incident is the first case of protection of victims’ cross-border defrauded funds in the anti-fraud handling of Industrial Bank Tianjin Branch. With the precise handling and efficient cooperation of relevant departments and institutions, the defrauded funds were successfully recovered in full. It is worth noting that the transaction involved this time has new characteristics. Suspicious elements have used cross-border information differences to intercept and confuse account information by registering companies with the same name and similar email addresses, thereby leading to customers being deceived. This also reflects the future of anti-fraud. The importance of monitoring and blocking at work. While manually verifying the authenticity and validity of transactions, Industrial Bank’s enterprise-level digital intelligent anti-fraud platform will play an increasingly important role in its ability to identify suspicious transactions in cross-border transactions before and during the transaction, relying on IoT big data.

In daily anti-fraud work, the police-bank cooperation mechanism plays an important role, which is particularly important in this case. When banks discover abnormal transactions, they promptly intercept them. The public security organs give the bank Xunlei assistance, immediately assist in reviewing the information involved, respond to clues provided by the bank, actively dispatch the police, and strengthen police-bank cooperation to jointly continue anti-fraud work.

In the follow-up work, Industrial Bank Tianjin Branch will continue to cooperate with the police and banks, take active actions, continuously improve the ability to detect and fight fraud, and effectively build the “last line of defense” against telecommunications fraud in the financial field, in order to combat, prevent and intercept new illegal crimes on the Internet. Contribute.

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