As the top regulatory authority in the payment industry, the central bank has naturally been unaware of fines for payment agencies, commercial banks, etc. over the years. In particular, in 2016, the central bank (including its branches) paid special attention to the fines issued by the payment industry and hit new highs in the amount.
35 million! Remit to the world
In the middle of this year, central bank branches all over the country began to carry out rectification operations. In the first batch of renewal of licenses has not been completed, the fines will be one by one. Among them, Shanghai Remittance Data Service Co., Ltd. (Remittance to the world) was fined 350,000 yuan by the Central Bank of Shanghai for violating anti-money laundering regulations.
According to the amount of fines, the circumstances of the remittance of the world are not particularly serious, but may affect the rating of the payment institutions. The relevant content of anti-money laundering accounts for about 30 minutes. At about the same time, Tonglian Payment Network Services Co., Ltd. Ningbo Branch was also fined by the Central Bank of Chinaâ€™s Ningbo Branch with a fine of 350,000 yuan for anti-money laundering issues, which are not separately listed here.
1.4 million China CITIC Bank (6.750, -0.04, -0.59%)
In March this year, the Central Bank announced the penalty decision for the Shanghai branch of CITIC Bank. China CITIC Bank Shanghai Branch violated relevant regulations concerning bank card acquiring business outsourcing, bank card acquiring business transaction processing and fund settlement, and special merchant real name system. The central bank decided to confiscate the illegal income of 1,462,947.55 yuan, and also to impose a one-time fine of 1,462,941.55 yuan.
This is more than a year later, the People's Bank of China once again set about rectifying the market for bank card receipts. This time, it is targeting the problem of outsourcing orders that CCTV had exposed last year. In the spot checks of 57 institutions, it was found that there was no implementation of the real name system for special merchants, the violation of the open trading interface for other institutions, the non-compliance of fund settlement, the incomplete completion of receiving the master key generation and management of the terminal, and the non-standard cooperative management of the outsourcer.
CITIC Bank Shanghai Branch is not the only traditional bank that has been punished. However, the proportion of its false merchants is higher than 65%, and it has already been regarded as a target for many third-party companies that have been punished. Financial institutions that have always been known for fairness and rigorous information auditing are also confused about the approval of acquiring receipts. In the face of millions of fines, CITIC Bank responded that it had written off all 2,123 problematic merchants and shut down all three outsourced merchants that violated the provision of transaction interfaces.
In July, the central bank announced the penalty decision for Tonglian.
In March of this year, several merchants reported that the Tonglian payment POS machine purchased from the agent Qinfeng Huaneng had been unable to pay after using the POS machine for a period of time. The agentâ€™s volume was over 4.2 million yuan. The Tonglian payment indicates that the Qinfeng Huaneng Department is a special merchant, and its illegal and illegal roll-out of merchant funds is not related to the company.
According to the social report, the central bank conducted a bank card acquiring service inspection on Tonglian Payment Network Service Co., Ltd. from March to May 2016. After verification, Tonglian Payment has not implemented the real name system for merchants, changed bank card transaction information, provided transaction interfaces for unlicensed institutions, deposited and transferred customer deposits through non-customer provision accounts, and irregular management of outsourcing services. Phenomenon, the report is basically true. The central bank will confiscate the unlawful income of Tonglian Payment Network Service Co., Ltd. according to law by 30,375,553.4 yuan and impose a fine of 11,101,266.02 yuan, giving warnings and fines to the relevant persons of the head office and the four branch companies.
In fact, this was the second time that Tonglian had been punished for violating the law in the past four months. As early as March of this year, Tonglian paid Ningbo Branch a fine of 1,015,000 yuan for a violation of regulations.
26 million! UnionPay Business
It is also huge that UnionPayâ€™s business has been punished with a single penalty and announced.
Almost at the same time of checking the payment of Tonglianlian, the People's Bank of China has also carried out a bank card acquiring business inspection on UnionPay Business Limited. UnionPay's business also has serious violations such as the failure to implement real name system for merchants, alteration of bank card transaction information, provision of transaction interfaces for unlicensed institutions, deposit and transfer of customer reserve funds through non-customer provision accounts, and irregular management of outsourcing services. The central bank will confiscate the unlawful income of UnionPay Commerce Co., Ltd. according to law to 6,134,255.55 yuan and impose a fine of 265,370,222.20 yuan, giving warnings and fines to the relevant persons of the head office and the five branch companies.
In fact, as early as 2014, UnionPay Commerce was reportedly criticized by the central bank for alleged pre-authorization cashing, and at the same time asked for self-examination. In April of this year, UnionPayâ€™s business was severely punished for violations of the law to open the channel for the two agencies. In view of the poor self-examination, the central bank had to take the initiative.
42 million! Yibao payment
In August, the Ministry of Management of the Central Bank announced a penalty notice for Yibao Payment Co., Ltd. Yibao Payment was warned for violating the relevant liquidation management regulations, confiscating its illegal income of approximately 10.592 million yuan, and imposed a penalty of 4 times the illegal income of approximately 42.369 million yuan. In addition, the fine also sets the highest record for the third-party payment penalty.
According to reports, Yibao paid for this incident involving the Qing dynasty, and the payment of the company's open access for the agency was a more serious phenomenon in the payment organization's illegal operation. As for the penalty, Yibao payment will be set up in the official website to set up a special rectification team, which will be rectified one by one and held accountable at every level.
In fact, this is not the first time that Epro paid for the first time on the black list. In 2014, a number of risky incidents involving the use of pre-authorization transactions to raise cash have been criticized by the central bank and criticized eight payment agencies, among which were Yibao payment. At that time, Yibao Payment had the problems of failing to implement the real name system of special merchants, ineffective monitoring of transactions, and ineffective handling of risk events, and was announced to stop accessing new merchants nationwide.
Looking at the reasons for these fines, the high-frequency content includes provision money, fraudulent merchants, illegal receipts, anti-money laundering, authorized cash withdrawal, and Erqing. At the same time, most of the punished targets are not first-time offenders. Frequent tickets are also the most direct manifestation of central bank contraction supervision. In line with the 2016 series of documents, it is expected that paying the industry chaos in 2017 will be the most powerful deterrent in history.