32 fines severely punished the payment agency "stepping on the line" and the relevant person in charge was held accountable
Our reporter Li Bing
At the end of the first half of the year, Sina Pay received a tens of millions of yuan fines from the central bank.
Recently, the People’s Bank of China Business Management Department (hereinafter referred to as the Central Bank Management Department) announced two pieces of administrative punishment information: Beijing Sina Payment Technology Co., Ltd. was fined for a total of about 18.8433 million yuan for nine violations. At the same time, Bian Jiang, then general manager of Beijing Sina Payment Technology Co., Ltd., was given a warning and fined 350,000 yuan.
It is worth noting that since this year, many third-party payment institutions have received high fines. According to the incomplete statistics of the payment search data according to the "Securities Daily" reporter, as of June 30, the central bank issued a total of 32 fines for payment institutions, with fines exceeding 250 million yuan.
Su Xiaorui, a senior researcher at the Sack Institute, told the Securities Daily reporter, "Since 2018, payment institutions have accelerated the pace of compliance, industry reshuffle has increased, and the awareness of compliance of stock institutions has increased under heavy penalties. ."
Sina pays ten million yuan fine
The relevant person in charge is accountable
According to the publicity information of the Central Bank’s Business Administration Department, the types of Sina payment violations mainly include 9 violations: the failure to implement the management responsibilities of special merchants; the payment transaction information has not implemented the true, complete and traceable requirements; Receiving business; failing to carry out business cooperation with outsourcing service agencies according to regulations; opening and using payment accounts in violation of regulations; failing to manage customer reserve funds according to regulations; failing to publicly disclose relevant matters according to regulations; failing to handle relevant changes according to regulations; failing to comply with regulations Establish relevant institutional measures.
Therefore, the central bank's business management department gave Sina a payment warning, confiscated the illegal income of 1.6589 million yuan, and imposed a fine of 17.1844 million yuan and a total of 18.8433 million yuan.
According to the disclosure, Bian Jiang, who was the general manager at that time, was responsible for Sina Pay’s unfulfilled management responsibilities of the special merchants and the illegal opening and use of payment accounts. He was given a warning and imposed a fine of 350,000 yuan.
According to public information, Sina Pay is a wholly-owned subsidiary of Sina Internet Information Services Co., Ltd. The chairman and legal representative is Liu Yunli. The company was established on September 5, 2011 with a registered capital of 100 million yuan and was granted a central bank payment license in 2013. The central bank's official website shows that the latest renewal of Sina Pay's "Payment Business License" is November 12, 2018, and it is valid until July 5, 2023.
Sina pays the tens of millions of tickets received from the perspective of the payment institution has been considered "heavyweight" tickets, but from the first half of 2020 as a whole, the tens of millions of tickets are no longer a "scarce" case.
According to the incomplete statistics of the payment search data according to the "Securities Daily" reporter, as of June 30, the central bank issued a total of 5 million yuan and above fines for payment institutions, and at the same time, all its responsible persons were accountable.
Specifically, in January, the Central Bank's Business Management Department disclosed a number of administrative penalties information, two payment institutions: Kailiantong Payment Service Co., Ltd. (hereinafter referred to as "Jianliantong") and Yinyingtong Payment Co., Ltd. (hereinafter referred to as "Yinyingtong"). Fined. The punishment information shows that there are a number of violations of Kailian Unicom, and a total of about 23.24 million yuan was confiscated; Yinyingtong was fined for failure to perform the customer's identification obligation, customer's identity information and transaction record keeping obligations, etc. About 17.9 million yuan; in April, UBS Trust was fined 62.14 million yuan by the Shenzhen Branch of the Central Bank for failing to establish relevant system measures or risk management measures in accordance with the regulations; failing to perform customer identity recognition obligations and other violations in accordance with the regulations; April In total, Shangyinxin Payment Service Co., Ltd. was fined a total of 116 million yuan for 16 violations, including embezzlement of reserves and direct payment and settlement services for illegal fund-raising platforms.
Among them, the two responsible persons of China Unicom and Yinyingtong were respectively punished for accountability, the relevant persons in charge of China Unicom were fined a total of 484,000 yuan, and the relevant persons in charge of Yinyingtong were fined a total of 650,000 yuan; Hui and other three persons were liable for relevant violations of the law and were fined 50,000 yuan to 175,700 yuan; then Lin Yao, chairman of Shangyinxin Payment, director of risk management department, and senior risk control manager Zhang Yue, because Responsible for the company's failure to discover and dispose of special merchants' transfer payment interface in a timely manner, and providing payment and settlement services for illegal fund-raising platforms, etc., and imposed fines of RMB 450,000 and RMB 200,000 respectively.
Liu Gang, the founder of the payment industry network, told the Securities Daily reporter, "The punishment of the relevant persons in charge is caused by weak anti-money laundering and other reasons. With the increase in the publicity of administrative punishments, the punishable persons are all publicized and will also be punished. The subsequent employment will bring a greater negative impact."
Future cross-border payments and anti-money laundering
Still the focus of supervision
From an industry perspective, for third-party payment institutions, the supervision is indeed getting stricter.
According to official central bank data, as of now, the stock of payment institutions has shrunk from 271 to 237, and the licenses of 34 payment institutions have been cancelled.
People in the industry generally believe that the barbaric growth period of the third-party payment industry is over. Regulators are adopting high-pressure rectification of this industry, and compliance and strict supervision are inevitable trends.
Su Xiaorui believes that the fines issued by third-party payment agencies in the first half of this year are showing several characteristics. The first is that the amount of fines is large, and the amount of fines received by Shangyinxin Payment has exceeded 100 million yuan. It is currently the largest fine in the history of payment; the second is that the punishment for the relevant responsible persons has begun to increase, and some details have been disclosed to the central bank. The determination and means to rectify the chaos in the payment market, large amounts of fines, and accountability by relevant responsible persons will become a regulatory trend in the short to medium term. She also emphasized that "the detailed punishment reasons can make the violating institutions to make targeted rectifications, which is more convenient for other institutions to learn from and draw lessons from."
Liu Gang believes: "Anti-money laundering is still the most important punishment of the central bank. Anti-money laundering is related to the legality of the transaction. If the payment institution lacks strength in anti-money laundering or knowingly commits a crime, it will be reserved for gray transactions such as yellow gambling and fraud. There is more space, which indirectly becomes an accomplice to the yellow gambling platform. In addition, the future cross-border payment field will also be the focus of supervision."
Su Xiaorui said that in the future, the central bank will continue to strengthen supervision in areas such as anti-money laundering, reserve management, merchant real-name system, and acquisition management. (Securities Daily)