Nearly 1 Million Chinese Customers Unable to Access Their Bank Deposits..

A teller counts yuan banknotes in a bank in Lianyungang, Jiangsu Province, on August 11, 2015. (STR/AFP/Getty Images)
Nearly 1 million Chinese bank customers have not 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 a regular withdrawal. On the 18th and 19th, the relevant banks issued notices of system upgrading and maintenance, and suspension of internet banking and mobile banking services.

The local government responded on April 25 stating that the banking system was being upgraded to prevent illegal activities. The Chinese Central Bank also issued a statement of investigation.

Two local depositors told the Chinese edition of The Epoch Times that it’s been more than 30 days and many people still cannot access their retirement funds or regular funds. They denied the official’s claim of investment fraud and said they are ordinary civilians who keep their savings in the banks.

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