**[Douyin Cracks Down on "Illegal Stock Recommendations" and Other Financial Scams, Over 100,000 Violations Addressed in Q3]** Recently, Douyin issued an official reminder stating that the platform has identified certain illegal financial activities. These activities are disguised as "professional services" and use "high returns and high profits" as bait to illegally publish financial-related short videos or conduct live streams, including stock recommendations, virtual currency transactions, proxy insurance cancellations, and debt-matching services. These activities aim to divert users off-platform to engage in illicit transactions and financial fraud. According to Douyin's official disclosure, in the third quarter of 2025, the platform addressed over 100,000 pieces of content related to illegal stock recommendations and other financial violations. This included handling over 10,000 pieces of content related to virtual currency transactions, banning hundreds of related accounts, and addressing over 30,000 violations involving high-risk financial intermediary services. Based on the current types of violations observed, Douyin has identified three common financial scams: 1. Self-proclaimed stock recommendation experts using "insider information" as a pretext to lure users off-platform for fraudulent stock recommendations. 2. Claims that virtual currencies offer "low risk and high returns," diverting users off-platform for fraudulent transactions. 3. Black-market financial intermediaries engaging in activities such as "debt-matching services" and "proxy insurance cancellations," which pose legal risks. Douyin stated that the platform is committed to cracking down on all forms of illegal financial activities and strictly prohibits behaviors that disrupt economic and financial management order, including but not limited to illegal stock recommendations and unauthorized promotion of financial products or services. For accounts and content that violate platform rules, Douyin will take measures such as removing videos, revoking live-streaming and monetization privileges, erasing improperly gained followers, and banning accounts. If criminal activity is suspected, the platform will report the matter to law enforcement authorities.