On August 1, the website of the People's Bank of China showed that the Bank of Shanghai was warned for eight illegal acts, confiscated 4695.95 million yuan of illegal proceeds, and fined 28.748 million yuan. According to reports, the bank's irregularities involved the fields of payment and settlement, currency, treasury, credit reporting, and anti-money laundering management. At the same time, those responsible for the above irregularities by the Bank of Shanghai have also been warned and fined. In response, a relevant person in charge of the Bank of Shanghai told reporters: “This penalty issue stems from the comprehensive law enforcement inspection carried out by the People's Bank of China in 2021. The penalty issue occurred between 2020 and 2021. The Bank attaches great importance to this and actively rectifies it through measures such as improving the system system, optimizing management processes, and improving management mechanisms. All issues involved have been rectified in accordance with regulatory requirements. The Bank will continue to strengthen compliance management and internal control, operate steadily in accordance with the law, and promote sustainable business development.”

On August 1, the website of the People's Bank of China showed that the Bank of Shanghai was warned for eight illegal acts, confiscated 4695.95 million yuan of illegal proceeds, and fined 28.748 million yuan. According to reports, the bank's irregularities involved the fields of payment and settlement, currency, treasury, credit reporting, and anti-money laundering management. At the same time, those responsible for the above irregularities by the Bank of Shanghai have also been warned and fined. In response, a relevant person in charge of the Bank of Shanghai told reporters: “This penalty issue stems from the comprehensive law enforcement inspection carried out by the People's Bank of China in 2021. The penalty issue occurred between 2020 and 2021. The Bank attaches great importance to this and actively rectifies it through measures such as improving the system system, optimizing management processes, and improving management mechanisms. All issues involved have been rectified in accordance with regulatory requirements. The Bank will continue to strengthen compliance management and internal control, operate steadily in accordance with the law, and promote sustainable business development.”