ICBC's Luzhou Branch Fined 1.88 Million Yuan for Multiple Regulatory Violations

Deep News04-24 18:10

On April 24, the Luzhou branch of the People's Bank of China issued an administrative penalty decision, revealing that the Luzhou branch of Industrial and Commercial Bank of China Limited was fined 1.8803 million yuan and given a warning for multiple violations. The infractions included: 1. breaching financial statistical management regulations; 2. violating account management rules; 3. failing to conduct customer due diligence as required; 4. non-compliance with counterfeit currency business management regulations; and 5. infringing upon regulations governing the collection, provision, inquiry, and related management of credit information. Additionally, an individual named Wang from the bank's personal finance department was fined 41,000 yuan for bearing direct responsibility for the branch's violations concerning credit information management.

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