On January 23, the Administrative Penalty Information Disclosure Form from the Jiangsu Provincial Branch of the People's Bank of China revealed that Jiangsu Haimen Rural Commercial Bank Co., Ltd. was found to have committed the following violations: breaching relevant financial statistical regulations; violating account management rules; failing to comply with data security management requirements; infringing upon regulations governing the circulation of Renminbi; breaking rules related to the collection, provision, inquiry, and associated management of credit information; neglecting to perform customer identity verification duties as required; and conducting transactions with clients of unidentified status. The bank was issued a warning and fined 1.413 million yuan.
An individual surnamed Zhou from the E-banking Department was fined 45,000 yuan for being held accountable for the failure to perform customer identity verification duties and for conducting transactions with unidentified clients. Another individual, Lu Mouye from the Credit Management Department, was fined 10,000 yuan for bearing responsibility for the violations concerning the collection, provision, inquiry, and related management of credit information.
