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Alipay was fined 180000 for multiple violations

4hw.com.cn: according to the information on the website of the central bank on April 8, Alipay was recently punished by Hangzhou Central Branch of the people's Bank of China. It can be seen from the punishment decision that Alipay (China) Network Technology Co., Ltd. involved in seven violations and was fined a total of 180000 yuan.

Alipay was fined 180000 for multiple violations

1、 Central bank issues a ticket: Alipay involves seven violations

From this decision, we can see that the payment network involves seven violations, which are divided into three aspects: customer rights and interests, product publicity and personal information protection.

1. Illegal behaviors in terms of customers' rights and interests

(1) The protection of financial consumers' right to know is inadequate;

(2) The protection of consumers' right of independent choice is insufficient.

2. Illegal activities in product publicity

(1) Carry out misleading publicity in video publicity;

(2) Carry out misleading propaganda in Alipay's official microblog;

(3) The calculation of the proportion of complaints handled is not true, which leads to the discrepancy between the data published to the public and the actual situation.

3. Illegal behavior in personal information protection

(1) Personal financial information collection does not conform to the minimum and necessary principles;

(2) Improper use of personal financial information.

2、 Supervision again: Alipay was fined 180000 yuan

The central bank issued a fine to Alipay as early as may 2017 before this punishment resolution on suspected violations of Alipay. At that time, the administrative penalty was' due to violation of payment business regulations, Shanghai Branch of the people's Bank of China asked for correction within a time limit and imposed a fine of 30000 yuan '. It can be seen that the compliance requirements of financial supervision for the third-party payment industry have not been relaxed. Although the amount of punishment is not as large as that for the banking industry, which is often hundreds of thousands or millions, it can be seen from this that the central bank's strict supervision attitude towards the third-party payment giants.

For the seven violations involved in Alipay, Hangzhou Central Branch of the people's Bank of China made a punishment resolution of 180000 yuan in total, and identified Alipay as violating two laws and regulations:

First, according to the administrative measures for payment services of non-financial institutions, a fine of 30000 yuan will be imposed.

Second, according to the law of the people's Republic of China on the protection of consumers' rights and interests, the two illegal acts of product publicity and personal information protection shall be given warnings and fined 100000 yuan and 50000 yuan respectively.

3、 Protect the rights and interests of consumers: mobile payment cannot 'trade privacy for convenience'

At present, in China's third-party payment market, Alipay and wechat have obvious advantages in online and offline comprehensive payment. While consumers improve user experience and enjoy payment convenience services, the risk of information disclosure can not be ignored. Previously, the central bank pointed out that: 'the internal control of the third-party payment institutions is weak, the protection of consumers is insufficient, and there is a greater risk of disclosure of personal privacy data and information. '

On March 26, Li Yanhong, Baidu's chairman and CEO, told China's high-level development forum about China's consumer privacy: 'Chinese people are more open-minded and less sensitive to privacy issues. If they can trade privacy for convenience, security or efficiency, in many cases, they are willing to do so. "This view then triggered a heated debate in the market, and financial regulation increasingly focused on protecting the rights and interests of consumers.

Payment is the most common financial demand in consumers' daily life. While the third-party payment institutions bring payment convenience, the regulatory requirements of financial compliance cannot be ignored. "Exchanging privacy for convenience" will cause huge potential risks, which will affect many fields such as user information disclosure, bank account theft, important privacy trafficking, illegal marketing and so on. Therefore, the regulatory authorities strictly control financial security and consumer rights protection. In the future, the regulatory measures in the field of financial science and technology will continue to be strengthened to strictly prevent risk violations and plug the regulatory loopholes. This is also a "tight hoop curse" for the third-party payment industry to ensure the business innovation of the practitioners under the premise of compliance, so as to promote the healthy and sustainable development of the whole financial industry.