E-commerce, especially via mobile payments, would not be as popular as it is in China were it not for the Chinese public's willingness to sacrifice some privacy in exchange for the convenience it offers.

Along with the ease of making payments with a simple tap on the touchscreen of a smartphone, comes the frequent need for identity authentication, which requires the compulsory sharing of key personal information. And, therefore, the subsequent risks of data leaks.

In spite of the unwanted calls and mail from salespeople, who obviously know about how much we earn and when we are about to renew our auto insurance, among other things, most of us just swallow the invasion of privacy because of the practical advantages offered by its use.

We share personal data with so many people, public institutions and businesses that there is usually no way to know who leaks them to third parties. It could be someone working at a government agency, or someone at an online store, or, as the latest scandal in Shanghai shows, it could be someone at your bank.

Without the authorization of the customer, a branch of CITIC Bank in Shanghai provided the employer of a popular talk show actor with historical transaction details of the man's account in March. Following the man's complaint, the bank apologized and said it had disciplined those responsible and removed the head of the branch.

Stating the bank is suspected of violating the Law on Commercial Banks and rules on customer information protection, the China Banking and Insurance Regulatory Commission has called on all banks and insurance companies to honor pledges of consumer rights protection, vowing to initiate investigations and punish wrongdoers.

Considering the concerns the scandal has raised, both the bank and regulatory authorities will display sufficient seriousness in order to avoid losing consumer trust. But it won't help much if the case does not end up alerting financial service providers to the critical importance of guaranteeing client privacy.

The transaction details of a person's bank account constitute some of the account holder's most important, most sensitive personal information, which a bank is under legal obligation to withhold from unauthorized third parties.

Except in cases of the owner's formal authorization, or circumstances prescribed by law, the financial service provider has no right to share such information with anyone but the owner. Even the owner's own casual attitude does not exempt the service provider from that obligation.

Many people wonder whether the matter would have been treated in such seriousness had the victim not been a celebrity of sort, one who claims a following of 5 million fans on the Chinese social media platform Weibo.

That will be another aspect of the episode calling for the industry watchdog's attention.