A recent administrative penalty disclosure from the People's Bank of China Wuhu Municipal Branch reveals that Bank Of Communications Co.,Ltd. Xinyu Branch has been sanctioned for multiple regulatory violations.

The infractions include non-compliance with financial statistics regulations, breaches of payment and settlement business management rules, violations of financial technology management standards, and failure to adhere to anti-counterfeit currency business requirements. Additionally, the branch was found to have withheld fiscal deposits or funds and contravened anti-money laundering business management provisions.

As a result, the People's Bank of China Xinyu Municipal Branch issued a warning to the institution and imposed a monetary fine of 894,600 yuan. Furthermore, an individual identified as Liu Mouqiang, affiliated with the Risk and Credit Management Department of the branch, was held personally accountable for the financial technology management violation and was fined 45,000 yuan.