Nearly 1 million Chinese bank customers haven’t been able to access their deposits for more than a month, according to Chinese media reports. While the Chinese bank regulator claimed that its investigation found illegal wealth collecting activities involving a major shareholder and a third-party platform, customers believe the regulator failed to safeguard people’s interests in the first place.
On April 18, customers of four rural banks in Henan Province found that their accounts were restricted when they tried to make regular withdrawals. On April 18 and 19, the banks issued notices of system upgrading and maintenance, and suspension of internet banking and mobile banking services.
