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China's c.bank to examine fintech firms for illegal unlicensed credit scoring business

By Reuters Staff
1 Min Read
BEIJING, Jan 25 (Reuters) - China’s central bank will look into and punish illegal unlicensed personal credit scoring businesses, a central bank official said on Monday, as the government tightens regulation on fintech firms who collect and use personal data in financial services.
“The personal credit scoring business conducted by those carrying the name of big data companies or fintech firms without obtaining the permission from the People’s Bank of China (PBOC) are considered as illegal activities,” Tian Di, deputy chief of PBOC’s Credit Information System Bureau, told reporters at a news conference in Beijing. (Reporting by Rong Ma and Ryan Woo; Editing by Toby Chopra) ....

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UPDATE 1-China's c.bank to examine fintech firms for illegal credit scoring business

China’s central bank will look into and punish illegal personal credit scoring businesses, a central bank official said on Monday, as the government tightens regulation on fintech firms who collect and use personal data in financial services. ....

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