On December 1, the State Administration of Financial Supervision and Administration made public a number of administrative punishment information, and China CITIC Bank, Agricultural Bank of China, and China Construction Bank were warned and fined one by one. Among them, due to the existence of 56 major violations of laws and regulations, the State Administration decided on November 16 to confiscate a total of 22,475 shares of China CITIC Bank180,000 yuan.
At the same time, Zhou Hua, then president of the Xiamen branch of China CITIC Bank, and Song Ke, then vice president and risk director of the Chongqing branch of China CITIC Bank, were also warned and fined.
In addition, Agricultural Bank of China shares were confiscated and fined a total of 2,710 due to 13 major violations of laws and regulations97.38 million yuan. Among them, the head office is 57097.38 million yuan, and 21.4 million yuan for branches.
China Construction Bank Co., Ltd. was confiscated and fined a total of 3,791 due to 18 major violations of laws and regulations879382 million yuan. Among them, the head office is 2041879382 million yuan, and 17.5 million yuan for branches.
As the country's money bag and institution that deals with money every day, banks can be said to play an important role in providing financial support for the development of all walks of life and maintaining the country's financial order and stability. However, with the frequent outbreak of financial corruption cases in recent years, especially the State Administration of Financial Supervision and Administration's simultaneous disclosure of a number of administrative punishment information, a number of banks have been punished for violating laws and regulations, which has once again sounded the alarm bell for us and reminded us that we must intensify supervision and control of the banking system in order to be truly optimistic about our money bags and maintain the stability and good order of the financial system. Otherwise, these will not be simple cases, nor will they be the last ones, but will be the beginning of corruption in the financial system.