Chengdu Mobao Payment is fined nearly 30 million yuan for multiple illegal activities involving violations of account management.

According to the recently announced administrative penalty decision information released by the Sichuan Branch of the People's Bank of China, Chengdu Mobao Network Technology Co., Ltd. was fined a total of approximately 29.43 million yuan for violating account management regulations, violating clearing management regulations, violating merchant management regulations, and failing to fulfill customer identity verification obligations as required. The company was warned, criticized, had illegal gains of about 8.0642 million yuan confiscated, and fined 21.365 million yuan.