Guangdong Dabu Rural Commercial Bank Fined 830,400 Yuan for Regulatory Breaches

Deep News04-09

On April 9, according to an administrative penalty disclosure from the Meizhou Branch of the People's Bank of China, Guangdong Dabu Rural Commercial Bank Co., Ltd. has been penalized for multiple regulatory violations. The bank was issued a warning and fined a total of 830,400 yuan for breaches including non-compliance with financial statistical management regulations, payment and settlement business rules, financial technology business requirements, treasury service provisions, credit information management rules, and anti-money laundering regulations.

Luo**, then Deputy General Manager (acting in full charge) of the Information Technology and Innovation Development Department and Deputy General Manager (acting in full charge) of the Inclusive Finance Department at Guangdong Dabu Rural Commercial Bank Co., Ltd., was held accountable for the bank's violations related to financial technology business regulations and was fined 20,000 yuan.

Zhang**, then General Manager of the Credit Management Department at Guangdong Dabu Rural Commercial Bank Co., Ltd., was held responsible for the bank's breaches of credit information management regulations and received a fine of 5,200 yuan.

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