What happened to China Construction Bank?

On September 3, 2018, China Construction Bank announced that due to customer reasons, in the process of providing financial services, an operational incident occurred in China Construction Bank Beijing Branch that violated compliance requirements and improper transaction methods. .

CCB needs to explain the relevant causes, impacts and follow-up measures, and at the same time deposit 1.5 million yuan in the branch as compensation for rectification of illegal operations.

The cause of this incident was that the client violated compliance requirements. CCB failed to discover and identify risks in a timely manner, failed to implement preventive controls, and failed to handle them in a timely manner, which ultimately resulted in improper operations.

China Construction Bank deeply reflects on the problems existing in the incident. First, it failed to discover and identify risks in a timely manner. Second, it failed to implement prevention and control. Third, it failed to handle them in a timely manner.

This incident has made CCB more aware that in the process of providing financial services, it must conscientiously implement compliance requirements, strictly implement management processes, increase risk management and control, fully grasp customer information, and provide customers with Provide better service.

In addition, CCB will also strengthen internal integrity procedures and compliance awareness training, focus on understanding the use of funds under loans, ensure the safety of funds, and strive to improve service quality for customers.