China Banking and Insurance Regulatory Commission and four other departments: Beware of illegal "proxy rights protection" short video and live broadcast traps.

The China Banking and Insurance Regulatory Commission, the Cyberspace Administration of China, the Ministry of Public Security, the People's Bank of China, and the China Securities Regulatory Commission issued a risk warning, reminding the general public to be vigilant against illegal "proxy rights protection" infringements, and to protect their rights in a legal and rational manner. Recently, some organizations and individuals have produced and spread inaccurate short videos through self-media platforms such as short videos and live broadcasts, involving "full refund of insurance premiums," "zeroing out debts," "debt optimization," "debt negotiation," "debt replacement," "credit whitewashing," and "investment advisory fee refunds." They even use live broadcasts to teach "techniques," misleading financial consumers and investors to entrust them with "proxy rights protection," in order to collect high consultation fees and service fees in the name of "legal rights protection" but in reality, engaging in "illegal profiteering." These illegal "proxy rights protection" short videos and live broadcasts spread false information, disrupt the order of the financial market, and infringe on the legitimate rights and interests of financial consumers and investors.