Jiangsu Lishui Rural Commercial Bank Co., Ltd. has been penalized with a fine of 2.4578 million yuan by the Jiangsu Provincial Branch of the People's Bank of China. The bank was found to have committed multiple regulatory violations, resulting in a warning, public censure, and confiscation of illegal gains amounting to 2,059 yuan.
The violations include: 1. Breaches of financial statistical regulations; 2. Non-compliance with account management rules; 3. Violations of special merchant management provisions; 4. Failures in network security management; 5. Lapses in data security management protocols; 6. Infringements of anti-counterfeit currency business regulations; 7. Non-adherence to RMB circulation management rules; 8. Misappropriation of fiscal deposits or funds; 9. Breaches of credit information collection, provision, inquiry, and related management requirements; 10. Failure to perform customer identification obligations as required; 11. Conducting transactions with unidentified clients.
Additionally, individual penalties were imposed on bank staff. Shi Moulei from the Network Finance Department was fined 20,000 yuan for responsibility in failing to perform customer identification duties and transacting with unidentified customers. Ling Mouqing from the Inclusive Finance Department received an 80,000 yuan penalty for violations related to credit information management. Zhu Mou from the Credit Management Department was fined 10,000 yuan for similar credit information regulation breaches.
The penalties were issued on February 2, 2026, with the enforcement actions remaining publicly documented for three years.
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