Lianyungang Dongfang Rural Commercial Bank Fined 973,075 Yuan for Regulatory Breaches

Deep News04-10 22:00

On April 10, the Lianyungang branch of the People's Bank of China published an administrative penalty decision, revealing that Lianyungang Dongfang Rural Commercial Bank Co., Ltd. has been penalized for multiple violations. The bank was found to have breached financial statistics regulations, violated account management rules, failed to comply with anti-counterfeiting requirements for the renminbi, and infringed upon regulations concerning the collection, provision, and inquiry of credit information. Additionally, the institution did not report suspicious transactions as required and provided services to, and conducted transactions with, clients whose identities could not be verified. As a result, the bank received a formal warning and was fined 973,075 yuan.

The penalty decision, documented under reference number Lian Yin Fa Jue Zi [2026] No. 1, was issued by the People's Bank of China Lianyungang Branch on March 26, 2026. The information regarding this penalty will be publicly available for a period of three years.

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