Mar 15, 2023 05:00 AM

Bohai Bank Slapped With $2.5 Million Fine for 12 Violations

What’s new: Tianjin-based regional lender China Bohai Bank was fined 17 million yuan ($2.5 million) by the central bank for 12 violations, the financial institution’s third penalty this year.

The People’s Bank of China published the penalty on its website Monday, accusing the bank of multiple counts of misconduct including breaking rules on deposit reserves, credit scoring and anti-money laundering.

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