Enforcement

The 28 officials and their immediate family members will be barred from entering China, Hong Kong and Macao, and restricted from doing business with China.

The three banks failed to conduct proper due diligence and verify cash that appeared to be abnormally restricted when underwriting Yongcheng Coal’s bonds.

The 7 individuals arrested are said to have helped a member of an international money laundering syndicate open at least 14 bank accounts.

The Ministry of Public Security arrested over 75,000 suspects and shut down thousands of online gambling platforms, payment platforms and underground banks in 2020.

The latest designations are a response to the arrest of 53 pro-democracy politicians and activists this month. Hong Kong's government called the move "insane, shameless and despicable".

The Guangdong Communications Administration ordered 30 firms including banks and securities firms to fix the breaches and revamp their mobile phone apps.

The breaches have been reported to the PBOC and CSRC, which are likely to issue penalties to Haitong Securities and its subsidiaries.

Failures to perform customer identification and to report lar-value and suspicious transactions were the most frequent reason for the penalties.

The arrest is part of an investigation by UK, US and Australian authorities into the payment of bribes to officials in Iraq and other countries to secure oil contracts.

The former chairman of China's largest policy bank took 85.5mn yuan in bribes to facilitate financing for others including CEFC China Energy and HNA Group.