Construction Bank was fined and confiscated more than 43.5 million yuan for illegal activities such as failing to fulfill customer identification obligations as required.

On February 14, the People’s Bank of China disclosed administrative penalty information showing that China Construction Bank was fined for the following violations: 1. Violating account management regulations; 2. Violating designated merchant management regulations; 3. Violating RMB circulation management regulations; 4. Violating anti-counterfeit currency business management regulations; 5. Occupying or freezing fiscal deposits or funds; 6. Violating regulations on the collection, provision, and inquiry of credit information; 7. Failing to perform customer identity verification as required; 8. Failing to retain customer identity information and transaction records as required; 9. Failing to report large transactions or suspicious transactions as required; 10. Conducting transactions with unidentified customers. The bank was warned, confiscated illegal gains of 551,975.67 yuan, fined 42,955,100 yuan, with a total penalty of 43,506,075.67 yuan. The administrative penalty decision was made on February 12, 2026.

Additionally, due to responsibility for the above violations, Li (Personal Finance Department of China Construction Bank) was warned and fined 150,000 yuan; Fang Ming (Settlement and Cash Management Department), Lu Bin (Settlement and Cash Management Department), Chen (Credit Card Center), and Liao Xin (Cash Services Center of Beijing Branch) were warned and fined 100,000 yuan each; Liang (Inclusive Finance Division), Xiong (Online Financial Department) were fined 70,000 yuan each; Niu (Personal Finance Department) was fined 55,000 yuan; Xiao (Wuhan Data Center), Han (Credit Card Center), Wang (Online Financial Department), Hou (Personal Finance Department) were warned and fined 50,000 yuan each; Guo (Credit Card Center) was fined 45,000 yuan; Tang (Rural Revitalization Finance Department), Zhang (Credit Management Department) were fined 40,000 yuan each; Gao (Settlement and Cash Management Department), Huang (Asset Custody Business Department), Shao (Big Data Center of Jianxin Financial Technology Co., Ltd.) were fined 35,000 yuan each; Zhang Jun (Channel and Operations Management Department), Li (Business Department), Wen (Internal Control and Compliance Department) were fined 10,000 yuan each.

(People’s Bank of China)

(Edited by: Qian Xiaorui)

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