Core Viewpoint - Multiple banks are initiating the cleanup of long-dormant accounts, which include both personal and corporate accounts, to mitigate risks associated with fraud and money laundering [1][3]. Group 1: Bank Actions - Several banks, including Industrial Bank and Bank of China, have announced measures to restrict transactions on accounts identified as long-dormant starting from October 15 [2]. - Industrial Bank has adjusted its criteria for identifying long-dormant accounts, changing the balance threshold from 100 yuan to 10 yuan and extending the inactivity period from 180 days to 365 days [2]. - Other local banks, such as Fengtai Rural Commercial Bank and Huludao Bank, have also issued warnings regarding the cleanup of long-dormant accounts [2]. Group 2: Reasons for Cleanup - The cleanup of long-dormant accounts is driven by regulatory requirements and aims to prevent risks related to telecom fraud and money laundering [3]. - Long-dormant accounts, often referred to as "sleeping accounts," can lead to wasted financial resources and expose consumers to increased risks of fraud [3]. Group 3: Consumer Recommendations - Industry experts recommend that consumers regularly monitor and manage their bank accounts, including closing any accounts that are no longer in use [4]. - Consumers are advised to use services like the "one-click card check" feature in the Cloud Flash Payment app to track their bank accounts [4]. - If an account is identified as long-dormant but still needed, consumers should conduct at least one transaction before the bank's restrictions take effect to avoid complications [4]. Group 4: Account Recovery Process - If a bank account is frozen due to being classified as long-dormant, account holders can visit bank branches with their identification and bank card to reactivate their accounts [5]. - Banks emphasize that they will not request sensitive information such as passwords or verification codes through phone calls or messages during the cleanup process [5].

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].