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Agricultural Bank of China Fined 1.34 Million Yuan for Failure to Perform Customer Identity Verification Obligations

Deep News10-16 21:50

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On October 16, a financial frontline news report stated that Agricultural Bank of China Limited (ASX: 601288) was fined 1.34 million yuan for failing to perform customer identity verification obligations as required and for conducting transactions with customers of unknown identity.

Shen Mou (from the Network Finance Department of Agricultural Bank of China Limited) and Wang Mouguo (from the Operations Management Department of Agricultural Bank of China Limited) were held responsible for the failure to perform customer identity verification obligations as required, and were each fined 35,000 yuan.

Tong Mouyu (from the Credit Card Center of Agricultural Bank of China Limited) was held responsible for failing to perform customer identity verification obligations as required and for conducting transactions with customers of unknown identity, and was fined 45,000 yuan.

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