BEIJING (Reuters) – China’s central bank said on Monday it fined Hong Kong’s Bank of East Asia 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.
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)
