The People's Bank of China fines Postal Savings Bank of China for regulatory violations.
According to 36Kr, the People's Bank of China issued Regulatory Punishment Decision No. 2026-88 against Postal Savings Bank of China, issuing a warning and public notice, confiscating 290.2 yuan of illegal gains, and fining 17,433,000 yuan. The violations include breaches of financial statistics, account management, card acquiring, data security, anti-counterfeiting measures, and issues such as occupying government deposits, failing to perform customer identity verification, not reporting large or suspicious transactions, and dealing with unidentified customers.
Key facts
- 01The People's Bank of China issued Regulatory Punishment Decision No. 2026-88 to Postal Savings Bank of China.
- 02A warning and public notice were issued, and illegal gains of 290.2 yuan were confiscated.
- 03A fine of 17,433,000 yuan was imposed on Postal Savings Bank of China.
- 04Violations cited include breaches in financial statistics, account management, card acquiring, data security, anti-counterfeiting measures, and customer identification duties.
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