Chinese payment association blocks US$277m in gambling payments in 2022
The Payment and Clearing Association of China (PCC) detected over 60,000 suspected gambling-related transactions in 2022.
China.- The Payment and Clearing Association of China (PCC) has reported that in 2022 it aided member organisations in preventing nearly CNY2bn (US$277m) in transactions linked to what it termed as unspecified gambling activities.
The organisation, under the oversight of the People’s Bank of China, functions as a non-profit entity with a membership base, including banks, financial institutions, fintech firms and authorised non-banking payment entities. Its annual report released on Thursday revealed that more than 60,000 transactions suspected of being connected to gambling were flagged last year.
The association identified 4,292 payment accounts and 54 merchants allegedly engaged in gambling-related actions, although it did not detail the methodology it uses. This action aligns with mainland China’s broader efforts to clamp down on overseas gambling.
In July, China’s National Immigration Administration announced that 32,000 people were arrested in 16,000 cases of obstructing national border control in the first six months of the year. In 2020, China established a blacklist of destinations to which cross-border transfers are restricted.
The blacklist is compiled by multiple departments, including the Ministry of Culture and Tourism, the Ministry of Foreign Affairs and the Ministry of Public Security. In March 2021, China’s revised Criminal Law made it illegal to assist cross-border gambling.
