Secure your digital wallet, stay away from counterfeit scams—CITIC Bank Beijing Balizhuang Branch collaborates with Shilipu South Community to carry out a special campaign to prevent counterfeit digital yuan.

Recently, CITIC Bank Beijing Bali Zhuang Branch, in cooperation with Shili Bao Nanli Community, held a themed publicity event on “Preventing and Combating Fake Digital Renminbi,” targeting vulnerable groups such as middle-aged and elderly residents in the community and college students nearby. The event aimed to promote proper knowledge of digital Renminbi, expose scams involving fake apps and pyramid schemes, and help the public strengthen their financial security defenses.

Digital Renminbi is the legal digital currency issued by the People’s Bank of China. It has the same legal status and economic value as physical Renminbi. Digital Renminbi adopts a two-tier operation system, where the People’s Bank issues it to designated operating institutions, which are responsible for exchange and circulation transactions. The digital Renminbi wallet supports functions such as scanning QR codes for payments, online payments, tap-and-pay transactions, and mobile number transfers.

The advantages of digital Renminbi include: first, safety. As the country’s legal currency backed by national credit, digital Renminbi offers the highest security level. Second, inclusiveness. It features inclusive characteristics, allowing use without binding a bank account, and convenient operation to break down digital payment barriers. Third, instant. Transactions and transfers of digital Renminbi are realized through peer-to-peer value transfer between wallets, supporting offline network payments. It features “payment equals settlement,” reducing the time funds are in transit. Fourth, low cost. Consistent with the management of physical Renminbi, the People’s Bank does not charge designated operating institutions for exchange and circulation services, and these institutions do not charge individual customers for exchanging or returning digital Renminbi.

Currently, criminals are falsely claiming to use digital Renminbi to carry out pyramid schemes and scams, setting multiple traps targeting middle-aged and elderly people and college students. The core tactics are highly confusing:

• Receiving a text message claiming your digital Renminbi wallet is abnormal and requiring you to click a link for verification—absolutely do not click! Delete immediately! Official channels will not handle account issues via SMS links; all unfamiliar links are phishing traps.

• Strangers recommending “digital currency trading for high returns”—do not believe! Reject outright! Digital Renminbi is the digital form of legal currency, with no room for speculative trading.

• Recruiting “digital Renminbi grassroots promoters” to promote benefits—do not participate! Digital Renminbi operates under a “central bank - digital Renminbi business operating institution” dual-layer structure, with promotion handled by the digital Renminbi business operating institutions, commercial banks involved in operations, and their partner financial institutions. No private promotion centers or exams for promoters exist.

• Receiving a call claiming to be a bank customer service representative, saying they need to upgrade your wallet and asking for your mobile verification code—do not give it! Hang up immediately! Official channels will never ask for your mobile verification code for any reason. This code is critical for fund security; leaking it can lead to wallet theft.

• Someone in a group chat claiming that digital Renminbi can be “exchanged privately” at better rates than official channels—do not participate! Beware of traps! Digital Renminbi is the digital form of Renminbi, supported at designated operating institutions’ counters or ATMs in pilot areas. Private exchanges are unguaranteed and are likely scams designed to induce transfers.

At the event site, staff from CITIC Bank Beijing Bali Zhuang Branch explained cases and engaged in interactive Q&A to teach residents how to distinguish real from fake. When downloading the digital Renminbi app, users should recognize official channels and avoid clicking unknown links or scanning suspicious QR codes. Remember the “Three No’s and One More” principle: do not trust unfamiliar calls, do not click unknown links, do not disclose personal information, and verify before transferring funds. For elderly groups, the focus was on basic operations such as downloading, linking cards, and payments to eliminate the “digital divide.” For college students, the emphasis was on warning against online part-time jobs and campus promotion scams to protect living expenses and scholarships.

To help residents firmly safeguard their “money bags,” the event summarized the “Five No’s” principles for scam prevention:

• No panic—stay calm when faced with calls claiming to be from authoritative agencies;

• No clicking—avoid clicking unfamiliar links;

• No sharing—do not disclose passwords or verification codes, and refuse to share screens;

• No imitation—only download the digital Renminbi app from official app stores or websites;

• No believing—be cautious of all promises of “investment cashback” or “trading profits.”

This joint promotion between banks and communities has effectively enhanced the scam prevention capabilities of vulnerable groups. CITIC Bank Beijing Bali Zhuang Branch will continue to uphold the concept of serving the people with finance, regularly carry out anti-fraud publicity, engage with communities, campuses, and merchants, promote knowledge of digital Renminbi and anti-fraud measures, and safeguard the financial security of the public, maintaining a clean financial environment.

(Editors: Wang Lei)

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