Xin Lang Cai Jing·2025-11-29 08:17Core Points - The People's Bank of China announced significant administrative penalties against Beijing Bank and Huaxia Bank for multiple violations related to account management and acquiring services, totaling nearly 40 million yuan [1] Group 1: Beijing Bank - Beijing Bank was fined a total of 25.2685 million yuan, including the confiscation of illegal gains amounting to 1,886.3 yuan, due to nine violations including account management and acquiring services [2][4] - Eleven staff members from Beijing Bank were penalized, with fines ranging from 1,000 to 210,000 yuan for various violations [4][5] - Specific violations by Beijing Bank included failure to comply with customer identity verification obligations and engaging in transactions with unidentified clients [4][6] Group 2: Huaxia Bank - Huaxia Bank faced a total penalty of 13.8096 million yuan, which included the confiscation of illegal gains of 154,567.91 yuan, due to ten violations including account management and clearing services [6][8] - Eight individuals from Huaxia Bank were fined, with penalties ranging from 10,000 to 130,000 yuan for their respective roles in the violations [8][9] - Huaxia Bank acknowledged the penalties as a result of issues identified during a comprehensive enforcement inspection conducted by the People's Bank of China in 2022, and stated that all identified issues have been rectified [9]