On May 15, according to an administrative penalty information disclosure form from the People's Bank of China Ningbo Branch, Ningbo Yuyao Rural Commercial Bank has been penalized. The bank was found to have violated regulations on account management, network security management, renminbi circulation management, and counterfeit currency business management. Additionally, it failed to conduct customer due diligence as required and did not report suspicious transactions in accordance with regulations.

As a result, the People's Bank of China Ningbo Branch issued a warning to the bank, confiscated illegal gains of 4,456.17 yuan, and imposed a fine of 2.27 million yuan.