Core Viewpoint - The rise of non-cash payment methods has led to an organized and technologically advanced credit card fraud industry, posing unprecedented challenges to cardholder account security [1][2]. Group 1: Current State of Credit Card Fraud - Credit card fraud has evolved from sporadic scams to a complex and covert black market, utilizing various methods such as phishing, virtual transaction hijacking, and hacking [1]. - Many victims only realize they have been defrauded upon receiving transaction alerts from their banks, highlighting the sophistication of these criminal organizations [1]. Group 2: Measures Taken by Financial Institutions - Major banks in China have implemented real-time transaction monitoring systems to identify and intercept abnormal transactions [1]. - Insurance products like "fraud insurance" and "advance compensation" are being promoted to mitigate financial losses for cardholders [1]. - Some banks have introduced "account security lock" features on mobile platforms, allowing users to set transaction limits based on their usage scenarios [1]. Group 3: Challenges in Payment Security - The payment security system faces challenges from new forms of crime such as cross-border fraud and digital identity theft, which require banks to enhance their risk control measures [2]. - Cardholders often encounter difficulties in proving fraud, lengthy claims processes, and ambiguous liability determinations, indicating that payment security is a complex system involving service mechanisms and user experience [2]. Group 4: Recommendations for Improvement - Banks should increase technological investments and shift risk control models from reactive to proactive, incorporating advanced technologies like AI and behavioral biometrics [2]. - Improving customer service processes and establishing efficient, transparent fraud dispute resolution mechanisms are essential for enhancing user experience [2]. - Regulatory bodies need to refine legal frameworks, especially in emerging areas like cross-border fraud and electronic identity verification, while also fostering international judicial cooperation [2]. Group 5: Role of Consumers - Consumers are encouraged to maintain good card usage habits, regularly check account activity, set transaction limits cautiously, and remain vigilant against suspicious links and calls [2][3]. - In the event of fraud, consumers should promptly contact their banks, preserve evidence, and assert their rights [2]. Group 6: Long-term Vision for Payment Security - Ensuring payment security is a long-term endeavor requiring collective participation and continuous investment from society [3]. - Financial institutions must take responsibility for risk control through technological upgrades and service optimization, while regulatory bodies should enhance institutional design and international collaboration [3]. - A governance structure that balances shared responsibilities among all parties, along with a focus on technology, regulation, and user awareness, is essential for creating a secure payment environment [3].