Beijing Financial Regulatory Bureau: Strict crackdown on illegal lending intermediaries.

On August 11th, the Beijing Financial Supervision Bureau stated that the illegal lending intermediary chaos is one of the main manifestations of the "black and gray industries" in the current financial field. The Beijing Financial Supervision Bureau is resolutely cracking down on this issue, conducting special crackdown actions for three consecutive years. This year, efforts have been intensified, launching a combination of "strong responsibility, full coverage, strict crackdown" to effectively protect the legitimate rights and interests of financial consumers. Firstly, it is necessary to strengthen the responsibility of banking institutions and require institutions under its jurisdiction to enhance the management of lending assistance businesses, strictly prohibit institutions from cooperating with illegal lending intermediaries, and prohibit bank employees from colluding with illegal lending intermediaries. Secondly, a comprehensive investigation will be conducted to identify suspected illegal lending intermediary clues within its jurisdiction through means such as big data analysis, daily supervision, and institution submission. Thirdly, it will form a collaborative effort between central and local authorities. Actively cooperate with relevant departments, deepen the governance at the source and the connection with law enforcement, increase the disposal of negative financial information on the internet, jointly crack down on illegal groups, strictly and quickly punish "internal traitors" at banks, and form a strong deterrent against the chaos of illegal lending intermediaries.