The People's Bank of China has issued an administrative penalty notice revealing that Postal Savings Bank of China Co.,Ltd. (PSBC) has been penalized for multiple violations.
The bank was found to have breached regulations governing financial statistics, account management, bank card acquiring operations, data security, and anti-counterfeit currency operations. It was also cited for occupying fiscal deposits or funds, violating rules on the collection, provision, and inquiry of credit information, failing to perform customer identity verification obligations as required, failing to submit large-value or suspicious transaction reports as stipulated, and conducting transactions with customers of unidentified identity.
As a result, the People's Bank of China issued a warning, circulated a notice of criticism, confiscated illegal gains of 0.0002902 million yuan, and imposed a fine of 17.433 million yuan on Postal Savings Bank of China Co.,Ltd. (PSBC).
Eight responsible individuals were also penalized in conjunction, with total fines amounting to 220,000 yuan.
Details of the penalties are as follows:
1. Postal Savings Bank of China Co.,Ltd. — Penalty Decision No. [2026] 88: 1. Violation of financial statistics management regulations; 2. Violation of account management regulations; 3. Violation of bank card acquiring business management regulations; 4. Violation of data security management regulations; 5. Violation of anti-counterfeit currency business management regulations; 6. Occupation of fiscal deposits or funds; 7. Violation of credit information collection, provision, inquiry and related management regulations; 8. Failure to perform customer identity verification obligations as required; 9. Failure to submit large-value transaction reports or suspicious transaction reports as required; 10. Conducting transactions with customers of unidentified identity. Penalty: Warning, circulated notice of criticism, confiscation of illegal gains of 0.0002902 million yuan, fine of 17.433 million yuan. Issued by the People's Bank of China on September 8, 2026. Publication period: five years.
2. Ji Mougang (Network Finance Department, now Agriculture, Rural and Farmer Finance Department, Postal Savings Bank of China Co.,Ltd.) — Penalty Decision No. [2026] 89: Held responsible for the following violations by Postal Savings Bank of China Co.,Ltd.: 1. Violation of bank card acquiring business management regulations; 2. Failure to perform customer identity verification obligations as required; 3. Conducting transactions with customers of unidentified identity. Penalty: Warning, fine of 70,000 yuan. Issued by the People's Bank of China on September 8, 2026. Publication period: five years.
3. Wang Mouxing (Operations Data Center, Postal Savings Bank of China Co.,Ltd.) — Penalty Decision No. [2026] 90: Held responsible for the following violation by Postal Savings Bank of China Co.,Ltd.: Violation of data security management regulations. Penalty: Fine of 10,000 yuan. Issued by the People's Bank of China on September 8, 2026. Publication period: five years.
4. Liu Mou (Songzhuang Business Office, Tongzhou District, Beijing, Postal Savings Bank of China Co.,Ltd.) — Penalty Decision No. [2026] 91: Held responsible for the following violation by Postal Savings Bank of China Co.,Ltd.: Violation of anti-counterfeit currency business management regulations. Penalty: Fine of 65,000 yuan. Issued by the People's Bank of China on September 8, 2026. Publication period: five years.
5. Kou Mou (Credit Card Center, Postal Savings Bank of China Co.,Ltd.) — Penalty Decision No. [2026] 92: Held responsible for the following violation by Postal Savings Bank of China Co.,Ltd.: Violation of credit information collection, provision, inquiry and related management regulations. Penalty: Fine of 5,000 yuan. Issued by the People's Bank of China on September 8, 2026. Publication period: five years.
6. Cao Mouwang (Personal Finance Department, Postal Savings Bank of China Co.,Ltd.) — Penalty Decision No. [2026] 93: Held responsible for the following violations by Postal Savings Bank of China Co.,Ltd.: 1. Failure to perform customer identity verification obligations as required; 2. Failure to submit large-value transaction reports or suspicious transaction reports as required. Penalty: Fine of 30,000 yuan. Issued by the People's Bank of China on September 8, 2026. Publication period: five years.
7. Shen Mousheng (Internal Control and Compliance Department, Postal Savings Bank of China Co.,Ltd.) — Penalty Decision No. [2026] 94: Held responsible for the following violation by Postal Savings Bank of China Co.,Ltd.: Failure to perform customer identity verification obligations as required. Penalty: Fine of 10,000 yuan. Issued by the People's Bank of China on September 8, 2026. Publication period: five years.
8. Wu Mouxiong (Corporate Finance Department, Postal Savings Bank of China Co.,Ltd.) — Penalty Decision No. [2026] 95: Held responsible for the following violation by Postal Savings Bank of China Co.,Ltd.: Conducting transactions with customers of unidentified identity. Penalty: Fine of 10,000 yuan. Issued by the People's Bank of China on September 8, 2026. Publication period: five years.
9. Zhou Mou (Investment Banking Department, Postal Savings Bank of China Co.,Ltd.) — Penalty Decision No. [2026] 96: Held responsible for the following violation by Postal Savings Bank of China Co.,Ltd.: Failure to submit large-value transaction reports or suspicious transaction reports as required. Penalty: Fine of 20,000 yuan. Issued by the People's Bank of China on September 8, 2026. Publication period: five years.