China's central bank is considering measures to monitor online
payments in a bid to prevent fraud.
People's Bank of China vice governor Su Ning said the bank had
noted that a growing number of e-commerce sites were offering
online payment options as more people turn to the Internet for
their shopping and vowed to ensure the payment process was
secure.
The current online payment system leaves purchasers vulnerable
to online fraud, said Su. People's private and financial
information can be easily revealed and misused, he added.
China's e-commerce has boomed in recent years. Around 600
billion yuan (about US$74.5 billion) of transactions had been
conducted online by the end of 2005.
(Xinhua News Agency December 18, 2006)