China fines Bank of East Asia $2.6 mln for violating credit information rules

The Bank of East Asia

10/01/2022 08:37

BEIJING, Jan 10 (Reuters) - China's central bank said on
Monday it fined Hong Kong's Bank of East Asia  0023.HK  16.74
million yuan ($2.63 million) for violating rules on collecting
credit information, a filing showed.
    The penalty, which was conducted on Jan. 6 but revealed on
Monday, did not provide other details, the filing posted on the
Shanghai office of the People's Bank of China (PBOC) showed.
    China's central bank finalised rules on the management of
credit assessment in September, to prevent over-collection and
misuse of credit information from individuals and businesses,
and imposed requirements on agencies to ensure they protect
personal information.  urn:newsml:reuters.com:*:nL1N2JM0K5 urn:newsml:reuters.com:*:nB9N2QB03R
    The rules took effect from Jan. 1. 
    
($1 = 6.3727 Chinese yuan renminbi)

 (Reporting by Cheng Leng, Zhang Yan and Ryan Woo; Editing by
Louise Heavens)
 ((cheng.leng@thomsonreuters.com; +8610-5669-2129;))