Online bank payment was fined a total of about 9.62 million, responsible person was warned and fined 330,000.
Recently, the Beijing branch of the People's Bank of China issued penalties targeting the online payment technology company, along with its relevant personnel. The penalties show that the main illegal activities of the online payment technology company are: failure to establish and implement the real-name management system for designated merchants as required; failure to keep designated merchant files as required; improper management of payment interfaces; failure to establish a designated merchant information sharing and joint defense mechanism as required; non-compliance with service agreement provisions; failure to verify the opening of unit payment accounts in accordance with the wishes of the legal representative; unauthorized transfer of payment accounts to bank accounts with different names; failure to conduct designated collection business as required; failure to ensure that transaction information is true, complete, and traceable; and failure to carry out reserve fund business as required. In response to the above illegal activities, the Beijing branch of the People's Bank of China issued a warning, confiscated illegal gains amounting to about 2.19 million yuan, imposed a fine of about 7.43 million yuan, totaling approximately 9.62 million yuan in penalties. In addition, Huang, the head of the product department, vice president, and president of the payment technology company, was warned and fined 330,000 yuan.
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