CBIRC Launches Investigation into Citic Bank Client

Investing.com

Sun, May 10, 2020, 8:22 PM1 min read

In this article:

By Gina Lee

Investing.com – The China Banking and Insurance Regulatory Commission launched an investigation into claims that China Citic Bank leaked client information.

The regulator accused the lender on Saturday of revealing details of transactions made in an unspecified client’s personal bank account without authorization.

The claims, if proven, would be in breach of Chinese commercial banking law and relevant regulation. It also harmed the client’s consumer rights and information security rights, CBIRC added.

China Citic’s Shanghai stock (SS:601998) dropped 0.19% to CNY5.14 ($0.726). Meanwhile, its Hong Kong stock (HK:0998) was up 0.53% to HK$3.80 ($0.49) by 12:19 PM ET (5:19 AM GMT).

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CBIRC Launches Investigation into Citic Bank Client

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