China's central bank fines Postal Savings Bank 17.43 million yuan for ten regulatory violations
On September 24, 2026, the People's Bank of China (PBOC) fined Postal Savings Bank of China (PSBC) 17.433 million yuan ($2.4 million) and confiscated illegal gains of 290.2 yuan for ten categories of violations. These included breaches of financial statistics, account management, bank card acquiring, data security, anti-counterfeit currency rules, and anti-money laundering obligations. The PBOC also issued a warning and public criticism.
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China's central bank fines Postal Savings Bank 17.4 million yuan for violations
On September 24, 2026, the People's Bank of China (PBOC) issued a penalty decision against China Postal Savings Bank Co., Ltd. (PSBC). The bank was warned, publicly criticized, and ordered to disgorge illegal gains of 290.2 yuan, along with a fine of 17.433 million yuan. The PBOC cited multiple violations by PSBC, including breaches of financial statistics, account management, bank card acquiring, data security, and anti-counterfeit currency regulations. Additionally, the bank was found to have occupied fiscal deposits or funds, failed to properly perform customer identity verification, failed to report large or suspicious transactions as required, and conducted transactions with unidentified customers. The penalty reflects the central bank's ongoing enforcement of financial regulations and anti-money laundering compliance in China's banking sector.
Read sourceChina's central bank fines Postal Savings Bank $2.4 million for ten regulatory violations
On September 24, the People's Bank of China (PBOC) issued a penalty decision against China Postal Savings Bank Co., Ltd. (PSBC), imposing a warning, a public reprimand, confiscation of illegal gains of 0.02902 million yuan, and a fine of 17.433 million yuan (approximately $2.4 million). The penalties stem from ten categories of regulatory violations, including breaches of financial statistics, account management, bank card acquiring, data security, and anti-counterfeit currency regulations. Additional violations include occupying fiscal deposits or funds, failing to perform customer identity verification obligations, failing to report large-value or suspicious transactions as required, and conducting transactions with unidentified customers. The action underscores the PBOC's ongoing enforcement of financial compliance and data security standards in China's banking sector.
Read sourceChina Bohai Bank Fined 5.34 Million Yuan for Multiple Financial Regulatory Violations
On September 24, the People's Bank of China (PBOC) issued a penalty against China Bohai Bank Co., Ltd. for multiple violations of financial regulations. The bank was found to have breached rules related to financial statistics, bank settlement account management, and delegated collection business. As a result, the PBOC issued a warning, confiscated illegal gains of 85,100 yuan, and imposed a fine of 5.34 million yuan. The total penalty amounts to approximately 5.425 million yuan. The news was originally reported by Caizhongshe and republished on East Money's corporate news section.
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China's central bank warns, criticizes, and fines Postal Savings Bank 17.43 million yuan
The People's Bank of China (PBOC) has issued a warning and public criticism against Postal Savings Bank of China (PSBC), confiscating illegal gains of 290.2 yuan and imposing a fine of 17.433 million yuan. The penalties stem from violations including non-compliance with financial statistics, account management, bank card acquiring, and data security regulations. The news was originally reported by China Business News and republished on East Money's corporate news channel. The action underscores ongoing regulatory scrutiny in China's banking sector, particularly regarding data security and financial compliance.
Read sourceChina's central bank fines Postal Savings Bank 17.4 million yuan for ten violations
The People's Bank of China (PBOC) has issued a warning, public criticism, and a fine of 17.433 million yuan (approximately $2.4 million) to the Postal Savings Bank of China (PSBC). The penalty also includes confiscation of illegal gains amounting to 0.02902 million yuan. According to a report by Cailian Press, the violations include breaches in financial statistics, account management, bank card acquiring, and data security. The action underscores the central bank's ongoing efforts to enforce regulatory compliance in the banking sector, particularly in areas of data protection and financial operations. The specific details of all ten violations were not fully disclosed in the brief report, but the fine is one of the larger penalties imposed on a state-owned bank recently.
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