The Dongying branch of Postal Savings Bank of China Co., Ltd. has been penalized with a fine of 653,000 yuan following an enforcement action by the People's Bank of China Dongying branch. The penalties were imposed for violations including breaches of financial statistical regulations, non-compliance with account management rules, infringement of credit information provision management stipulations, and failure to conduct proper customer due diligence as required. In addition to the monetary penalty, the branch received a formal warning and a public reprimand.
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