SPDB Bank was fined and confiscated more than 42.5 million yuan for violating account management regulations and other illegal activities.

LightningPacketLoss · 2026-03-06T21:09:25+00:00

The People's Bank of China has imposed administrative penalties on Shanghai Pudong Development Bank and its related responsible persons for violating multiple management regulations. The bank was fined 42,228,900 yuan, with illegal gains of 275,500 yuan confiscated. Several employees also received warnings and fines.

LightningPacketLoss

2026-03-06 21:09:25

Abstract generation in progress

On February 14, the People’s Bank of China disclosed administrative penalty information indicating that Shanghai Pudong Development Bank Co., Ltd. was involved in the following violations: 1. Violating account management regulations; 2. Violating clearing management regulations; 3. Violating bank card acquiring business 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 documents 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 275,456.08 yuan, fined 42,228,900 yuan, and the administrative penalty decision was made on February 12, 2026.

Additionally, due to responsibility for the above violations, Xia Mouping (Credit Card Center of Pudong Development Bank) was warned and fined 315,000 yuan; Pan Moudong (Operations Management Department of Pudong Development Bank) was warned and fined 135,000 yuan; Feng Moliang (Information Technology Department of Pudong Development Bank) was warned and fined 50,000 yuan; Yan Moxia (Retail Credit Department of Pudong Development Bank) was fined 40,000 yuan; Li Mou (Corporate Business Department of Pudong Development Bank) was fined 20,000 yuan; Zhou Mou (Retail Business Department of Pudong Development Bank) was fined 20,000 yuan; Lu Mouyong (Retail Credit Department of Pudong Development Bank) was fined 75,000 yuan; Xue Mouhua (Online Financial Department of Pudong Development Bank, Mobile Financial Department) was fined 45,000 yuan; Liu Moub (Legal Compliance Department of Pudong Development Bank, Case Prevention Office) was fined 55,000 yuan.

(People’s Bank of China)

(Edited by: Qian Xiaorui)

Keywords:

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.