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Why was the 51 credit card investigated behind the 51 credit card

Original title: behind the investigation of 51 credit cards: posing as a state organ to threaten debt collection source: kowtow financial news

Guide: 'earlier, illegal cases continued to break out in the online loan collection process, but most of them were aimed at outsourcing collection companies. The 51 credit card investigation can be said to be the first large-scale case against online loan enterprises on a third-party platform in recent years.' A local financial online loan practitioner in Hangzhou admitted that this time, as a well-known mutual fund platform in the industry, it was investigated due to outsourcing collection companies, which is quite meaningful.

At 4 p.m. on October 21, after several hours of disturbance, the well-known mutual fund platform 51 credit card finally gave an ambiguous response to the 'online loan supervision storm investigation' that detonated the market that day through its official microblog.

In the morning of that day, it was reported that dozens of police entered the building located in Xixi Valley Park, Zixia street, West Lake District, Hangzhou to conduct a surprise investigation, and nearly 100 51 credit card employees were taken away. As soon as the news came out, 51 credit cards listed in Hong Kong stocks immediately collapsed, once plummeted by more than 40%. As of 1:50 p.m., when they had to be suspended due to major matters to be announced, their decline had reached 34.69% to close at HK $1.77.

'the company's business operation and financial situation remain normal and sound '. Even though various live photos and videos have been filled in the circle of friends and major media to prove the occurrence of this major event, 51 credit card still called this event' all false rumors about the company 'and said it was' unanimously and severely condemned' for such acts of making false rumors.

According to financial news, the raid on 51 credit cards was not a temporary move by the relevant departments, but a special action planned for a long time.

An insider close to the Hangzhou police system told koukuo Caixun that the police involved in the raid to check 51 credit cards were not led by the public security branch of Hangzhou Xihu District where they were located, but were deployed and arranged by Hangzhou Public Security Bureau, and transferred the economic investigation police of other districts and counties of Hangzhou to handle a large-scale case.

There are different opinions about the reason why the 51 credit card was raided by Hangzhou police.

So why was the 51 credit card checked?

'51 credit card outsourcing collection companies use soft violence to collect, leading to regulatory intervention.' The above-mentioned people familiar with the matter disclosed.

At 11:14 p.m. on October 21, Hangzhou public security also officially released information that the investigation of 51 credit cards carried out by Hangzhou police on October 21 was "entrusted outsourcing collection companies suspected of provocation and other criminal acts".

"Earlier, illegal cases continued to break out in the online loan collection process, but most of them were aimed at outsourcing collection companies. The 51 credit card investigation can be said to be the first large-scale case against online loan enterprises on a third-party platform in recent years." A local financial online loan practitioner in Hangzhou admitted that this time, as a well-known mutual fund platform in the industry, it was investigated due to outsourcing collection companies, which is quite meaningful.

1) Storm eye

Although the credit card insisted that "the company's business operation and financial status remained normal and sound" at 51 PM that day, many middle and senior managers were indeed taken away in the raid of Hangzhou police that morning. Even if some core employees were not taken away, they were also questioned by the police one by one.

From the main points of being questioned by the police that day, we can also see some information about the case involving 51 credit cards this time.

"Mainly around the collection of corporate loans." A 51 credit card employee who was questioned by the police and put back revealed that he also asked about the source and collection method of user related data

In the morning of the same day, when the 51 credit card was checked by the police was just fermenting on the network, one of its vice presidents also admitted to the media that the police raid was a '51 credit card collection outsourcing problem'.

"The rise of Internet finance has ushered in a major outbreak in the industry for professional collection companies and non professional collection companies originally serving private lending, but the quality is uneven, resulting in frequent malignant events in the collection process." The above Hangzhou local financial online loan practitioners frankly said.

Recently, the network includes a mutual fund complaint platform, and questions about the suspected 'violent collection' of 51 credit cards have emerged.

Public information shows that 51 credit card business covers one-stop personal financial services such as personal credit management services, credit card technology services, online loan matching and investment services. It has many apps such as' 51 credit card housekeeper ',' 51 character 'and' 51 character loan '. The main business of 51 credit card is still credit matching business. Taking 51 personality loan as the platform, it diverts charging businesses such as credit card promotion, loan promotion, credit card compensation and financial management to earn service fees.

In mid August, many netizens broke the news on social media, which was maliciously collected by 51 character loans and bombed the address book. On the third-party complaint platform, a number of users reported that 51 moral loans harassed and abused relatives and friends, and even called their families to harass and intimidate.

51 character loan is the main loan product of 51 credit card. According to the introduction on the official website, it provides up to 200000 pure online and unsecured loans, which can arrive in 2 hours at the fastest.

According to the complaint data from jushang, a well-known online loan complaint platform, the number of complaints about 51 personal loan is 4215, the number of complaints about 51 credit card housekeeper is 958, the number of complaints about 51 immediate is 605, the number of complaints about 51 lending you money is 363, the number of complaints about 51 lightning loan is 241, and the number of complaints about the whole 51 credit card series products is as high as 6382.

"Since September this year, Hangzhou police have received clues from superior departments and found & lsquo; 51 credit card & rsquo; Involving a large number of local abnormal complaint information. After preliminary investigation, it is found that & lsquo; 51 credit card & rsquo; Entrusting an outsourcing collection company to pretend to be a state organ and use soft and violent means such as intimidation and harassment to collect debts, which is suspected of provocation and other crimes. " Hangzhou Public Security reported on the evening of October 21.

"Pretending to be a state organ, intimidating, harassing and other means are actually the usual methods used by some private collection companies. The most common are pretending to be a public prosecutor's office, forging credit investigation, lawyer's letters and even court summonses." The above practitioners said that in addition to directly affecting the borrower, these harassment information will directly put pressure on the borrower's relatives and related persons through illegally obtained address books and other relevant user information.

In fact, in the first half of this year, the relevant persons in charge of a number of collection enterprises were investigated and even arrested by the police for using illegal collection methods. For example, on April 19, a collection company called Chunfeng Asset Management Co., Ltd. in Bao'an District, Shenzhen, a large number of employees were taken away by the local police. Some witnesses said that the public security department dispatched a large number of police forces and buses to approach 350 staff on the spot.

"Third party platforms often sign contracts with collection company platforms. They are only responsible for quality inspection and complaints, and they are not responsible for collection methods. Therefore, almost everything that happens is recognized as the responsibility of collection companies, while third-party platform companies can basically get rid of the relationship." The above local practitioners in Hangzhou said that, however, the information of borrowers is often provided by third-party platform companies, which involves illegal information collection. If this is used as a breakthrough, it is difficult for third-party platform companies to get rid of their responsibilities.

2) The most injured Xinhu Zhongbao

At present, the relevant information released by Hangzhou police shows that the 51 credit card case is mainly caused by the provocation caused by financial collection, but according to the logic of 'involved', the suspicion of illegally collecting user information is indeed or difficult to escape supervision.

Earlier, a letter sent by a bank to 51 credit card circulated on the Internet said, "through our technical monitoring, it was found that your company captured our bank's information through the crawler program, but we did not sign the relevant written authorization or consent with you, or default that your company obtained the user's personal information from our system and business processing."

At the same time, the letter also shows that 'as the operator of 51 credit card housekeeper app, your company obtains users' personal information in an all-round and huge amount, which is suspected to constitute the crime of infringing citizens' personal information', 'we urge you to immediately stop capturing our users' online banking data or other personal information.'

In July this year, 51 personal credit was also named by the Ministry of industry and information technology for mobile phone personal information without the user's consent.

Although 51 credit card has repeatedly insisted that 'the company's business operation and financial situation remain normal and sound', with the 'real Hammer' of Hangzhou police in the evening, 51 credit card will suffer unprecedented pressure both in the capital chain of its online loan platform and the share price of the secondary market.

"Under the influence of the continuous explosion of P2P online lending and other platforms in recent years, investors have long been like frightened birds. If there is a slight disturbance, they will be frightened. The 51 credit card investigation event is bound to trigger a wave of redemption and run by investors. After all, capital security is what investors are most concerned about now." The above local financial practitioners in Hangzhou said that no one knows what problems will be involved in the regulatory investigation caused by the 51 credit card case.

In the secondary market, 51 credit cards listed in Hong Kong stocks have been voted by investors with their feet.

Xinhu Zhongbao, A-share listed enterprise, or the one who suffered the most negative impact in the event except sun Haitao, the actual controller of 51 credit cards.

On the evening of October 21, Xinhu Zhongbao had to issue an announcement to admit that the 51 credit card incident would have an impact that could not be assessed for the time being.

'because 51 credit cards have not disclosed the specific reasons for the suspension, the company is unable to assess its impact on listed companies. If its share price continues to fall sharply, it will have a certain impact on the company's investment income and current profits. " Xinhu Zhongbao said in the above announcement that it has invested US $200 million in 51 credit cards, accounting for 21.83% of its total share capital, and is the second largest shareholder of 51 credit cards.

On October 21, due to the investigation, the share price of 51 credit cards plummeted by 34.32%. In only half a day, the market value evaporated by about HK $1 billion, which also means that the book market value of Xinhu Zhongbao of more than HK $200 million was annihilated.