Strict Payment Regulation Continues; Over 40 Penalties Issued to Licensed Payment Institutions in the First Three Quarters

In the first three quarters of 2026, branches of the People's Bank of China continued to publicly disclose administrative penalties against payment institutions, maintaining a strict regulatory stance. According to a review, branches of the People's Bank of China issued over 40 penalties to licensed payment institutions, with total fines and confiscations exceeding 350 million yuan, including a single maximum penalty of 74.45 million yuan. Regulatory authorities strictly enforced a dual-penalty system targeting both institutions and directly responsible individuals, imposing penalties on institutions while simultaneously holding relevant senior executives and directly responsible persons accountable. (Securities Times)