Core Viewpoint - Multiple banks in China are initiating the cleanup of long-term inactive accounts, which is seen as a measure to enhance operational efficiency and mitigate risks associated with fraud and money laundering [2][3][13]. Group 1: Cleanup Initiatives - Xinjiang Hetian Rural Commercial Bank announced a cleanup of personal mobile banking accounts that have been inactive for four years or more [1][8]. - Hubei Yuan'an Rural Commercial Bank is also conducting a cleanup of personal bank accounts, targeting long-term inactive accounts and those with missing or expired identity information [2][4]. - Other banks, including Guizhou Development Village Bank and branches like Hohhot Bank and Xinjiang Weili Rural Commercial Bank, have issued similar announcements regarding the cleanup of inactive accounts [6][10]. Group 2: Criteria for Cleanup - The criteria for identifying long-term inactive accounts vary among banks but generally focus on low balances and a lack of active transactions [2][6]. - For instance, Industrial Bank has adjusted its criteria from accounts with a balance of 100 yuan and 180 days of inactivity to accounts with a balance of 10 yuan and 365 days of inactivity [6][7]. - The cleanup also includes accounts with multiple registrations under the same identity and those with the same phone number linked to different customers [4][11]. Group 3: Rationale Behind Cleanup - Industry experts suggest that the cleanup of long-term inactive accounts serves as a technical adjustment to improve operational efficiency and as a risk control measure against illegal activities such as telecom fraud and money laundering [3][13]. - The cleanup is also aimed at optimizing resource allocation within banks, as maintaining dormant accounts incurs costs and can lead to inefficiencies [11][13]. - The initiative aligns with regulatory guidelines aimed at preventing the misuse of dormant accounts for illicit activities [12][13]. Group 4: Consumer Impact and Recommendations - The cleanup is expected to benefit consumers by encouraging them to consolidate their financial resources and avoid unnecessary management fees associated with multiple inactive accounts [13][14]. - Banks are advised to enhance communication with customers regarding the cleanup process, particularly for vulnerable groups such as the elderly [14]. - Customers are encouraged to regularly review their accounts and take action to maintain those that are valuable, while being cautious of potential scams related to account management [14].