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China CITIC Bank investigated over client information leaks

May 11, 2020


Abstract : China's banking regulator on Saturday announced an investigation into China CITIC Bank for the leakage of confidential client information.

BEIJING, May 9 (Xinhua) -- China's banking regulator on Saturday announced an investigation into China CITIC Bank for the leakage of confidential client information.

In March 2020, the bank provided transaction details of a personal bank account to a third party without the authorization of the client, the customer protection bureau under the China Banking and Insurance Regulatory Commission (CBIRC) said in an online statement.

The bank has failed to fulfill its confidentiality duty to depositors and is suspected of violating the legitimate interests of customer, said the CBIRC.

The bureau will initiate the investigation procedures in accordance with relevant laws and regulations, the statement said.

Earlier this week, a Chinese stand-up comedian accused China CITIC Bank of disclosing transaction information of his personal account. Enditem

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Keyword: CITIC CBIRC banking industry

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