On May 13, the financial sector reported that according to the administrative penalty decision disclosure form of the People's Bank of China Putian Branch, Fujian Xianyou Rural Commercial Bank was warned and fined 805,000 yuan for multiple regulatory violations. These violations include: non-compliance with credit information collection, provision, inquiry, and related management regulations; breaches of financial statistical regulations; failure to adhere to account management rules; violations of data security management requirements; inadequate customer due diligence as required; failure to report suspicious transactions as mandated; and providing services or conducting transactions with unidentified clients.

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