Nearly 116 million yuan!
The central bank issues the largest fine for domestic payment institutions
Xinhua News Agency, Beijing, October 10 (Reporter Wu Yu) The reporter learned from the Business Management Department of the People's Bank of China on the 10th that in order to strengthen the supervision of payment institutions and standardize the development of the payment industry, the Central Bank's Business Management Department imposed more than 178 million yuan on six payment institutions. fine.
Among them, the largest fine of domestic payment institutions-nearly 116 million yuan was issued to Commercial Bank Credit Payment Service Co., Ltd.
Compliance management is the bottom line and the most basic requirement for the existence of payment institutions, as well as the cornerstone of the healthy development of the payment industry.
The reporter learned that the Central Bank’s Operations Management Department has stepped up investigations and issued warnings to six payment institutions, imposing a total of 178,377,500 fines and imposing a total of 178,377,500 fines on 8 related payment institutions in the area of weak compliance awareness and serious violations of laws and regulations. Officers were given warnings and fined a total of 2.422 million yuan.
Among them, Shangyinxin Payment Service Co., Ltd. was fined 119,979,900 yuan, Beijing Sina Payment Technology Co., Ltd. was fined 18,843,300 yuan, and Yufu Payment Co., Ltd. was fined 14,535,900 yuan.
A relevant person from the Central Bank's Operation Management Department stated that the largest fines issued to domestic payment institutions on Commercial Banking and the successive administrative penalty decisions on Yufu Payment and Sina Payment have effectively deterred payment institutions from illegal activities.
Strengthening the supervision of payment institutions, maintaining high pressure on violations of laws and regulations, and continuously increasing the cost of violations will help the healthy development of the payment industry, protect the legitimate rights and interests of financial consumers, and have a positive significance in optimizing the economic and financial environment.
The central bank stated that through the joint efforts of multiple departments, the special rectification of payment institutions has achieved initial results, the illegal activities of payment institutions have been effectively curbed, the level of risk control and compliance capabilities have been significantly improved, and the order of the payment service market has improved significantly.