Involving violations of regulations on the administration of financial statistics, etc., the Rural Credit Cooperative Union of Lele County was fined 1,229,000 yuan.

Beijing Business Daily News reported that, on April 7, the Sanming City Branch of the People’s Bank of China released a public notice of administrative penalty decision information indicating that the Lujiang County Rural Credit Cooperative Union, for illegal acts including “violating financial statistical management regulations and failing to submit statistical reports as required; violating account management regulations; violating card-acquiring business management regulations; violating data security management regulations; violating cybersecurity management regulations; violating anti-counterfeit currency business management regulations; failing to conduct customer due diligence as required; and conducting transactions with customers of unidentified identity,” as well as other illegal acts of a similar nature, was given a warning and fined 1,229,000 yuan.