Loan funds have been embezzled Statistical data is untrue Financial management business is not standardized

Zhou Fenmian, all-media reporter of the Rule of Law Daily

Recently, the China Banking and Insurance Regulatory Commission seriously investigated and dealt with a number of violations of laws and regulations, and made administrative punishment decisions on five financial institutions including Bank of China, Minsheng Bank, Bohai Bank, China Construction Bank, and Standard Chartered Bank (China) and related responsible personnel in accordance with the law, with a total fine of nearly 3.88 billion.

The China Banking and Insurance Regulatory Commission stated that during the special on-site inspection of Bank of China, Minsheng Bank, and Bohai Bank to support the implementation of major policies for private enterprises and small and micro enterprises, it was found that the three banks had misappropriation of loan funds, untrue statistical data, and review procedures for major related transactions. For violations of laws and regulations such as irregularities, a fine of 32.8 million yuan was imposed on the merger of Bank of China’s head office and branches, a fine of 66.72 million yuan was imposed on Minsheng Bank, and a fine of 16.6 million yuan was imposed on Bohai Bank, and relevant responsible persons were given warnings.

During the on-site inspection of the risk management and internal control effectiveness of China Construction Bank and Standard Chartered Bank (China), it was found that the above-mentioned institutions had many problems such as inconsistent service charges, serious violations of prudent management rules in loan management, and non-compliance in the investment and operation of wealth management business. violation of laws and regulations. The China Banking and Insurance Regulatory Commission confiscated illegal income and imposed a fine of about 73.41 million yuan on the head office of China Construction Bank, fined its branches 125.5 million yuan, fined 9 responsible persons and gave warning punishments, confiscated illegal income and imposed a fine on the head office of Standard Chartered Bank (China) 36.2594 million yuan, and a fine of 13.4 million yuan on branches.