China has taken significant steps to address the rising issue of telecommunications and cyberspace fraud with the introduction of comprehensive restrictions. A new guideline was issued on Tuesday, strengthening existing regulations by holding not only those committing fraud accountable but also those offering support, such as bank accounts and other tools, to the offenders. This initiative comes from a collaborative effort among several governmental bodies, including the Ministry of Public Security and the People's Bank of China.

The guideline outlines specific targets for the new restrictions, including individuals who have faced legal repercussions for fraud and those who repeatedly sell, rent, or lend tools like SIM cards or online payment accounts for fraudulent purposes. This also extends to people who facilitate real-name authentication for such stolen tools multiple times. Zheng Xiang, a senior official in the Ministry of Public Security, noted that the increasing prevalence of these crimes necessitated such robust measures.

Offenders will face inclusion on a national list of dishonest entities, with their information being shared across various government platforms to ensure enforcement of the restrictions. Those listed will be prohibited from engaging in bank transactions except in specific situations and will face limitations on their telecommunication services. Such restrictions may last from a minimum of two years to a maximum of five, with the possibility of removal once the period ends, alongside the safeguarding of offenders' rights throughout the process.

In a proactive measure, the police are mandated to inform offenders of their restrictions, detailing the reasons and processes for appealing. Additionally, Yang Qing from the People’s Bank advises the public against renting or lending personal financial accounts or digital wallets, highlighting the importance of maintaining secure practices to prevent involvement in fraudulent activities.