Core Viewpoint - The People's Bank of China (PBOC) Shanghai Branch has imposed penalties on Baofu Network Technology (Shanghai) Co., Ltd. for violations related to merchant management, clearing management, and account management, resulting in a total fine of RMB 3.77 million and confiscation of illegal gains amounting to RMB 11,291.48 [1] Group 1: Regulatory Actions - Baofu Payment received a warning and was fined RMB 3.77 million for multiple regulatory violations [1] - An individual, Chen, was also penalized with a warning and a fine of RMB 160,000 for direct responsibility in the account management violations [1] Group 2: Company Response - Baofu Payment stated that it has established a special team to follow up on the PBOC's guidance and has completed self-inspection and rectification work [1] - The company expressed its commitment to comply with regulatory requirements and aims to optimize its business management processes as a result of the regulatory guidance [1] - Baofu Payment emphasized its dedication to adhering to compliance and risk management standards to promote high-quality development in the payment industry [1]
宝付支付涉三项违规被罚377万元 回应称已成立专项小组
Zhong Guo Jing Ying Bao·2025-11-04 08:47