Central Bank Warns of Telecom Scams Involving Digital Yuan

What’s new: Since China launched trials of the digital yuan, known as the e-CNY, criminals have taken advantage of insufficient public awareness to conduct telecom scams, a senior People’s Bank of China official warned.

China will fully respect privacy and protect personal information for digital yuan users and will focus on risk prevention to prevent telecom fraud and meet anti-money laundering and anti-terrorist financing requirements, Mu Changchun, director-general of the central bank's Digital Currency Research Institute, said in an article in Modern Bankers journal.