"8 banks fined 1.487 billion yuan."

On September 12th, the official website of the China Banking and Insurance Regulatory Commission disclosed three batches of fines, involving many national banks, asset management companies, and other financial institutions. It is worth noting that the amounts of these fines are relatively large, with a total of 14.87 billion yuan imposed on 8 banks, 14.2 million yuan on 2 asset management companies, and 2.825 million yuan on 1 insurance company. In terms of the reasons for the fines, they can mainly be divided into several categories: information technology and system management defects, weak risk management and internal control, violations in investment and wealth management businesses, and issues with data governance and reporting. These phenomena collectively reflect that some financial institutions have deficiencies in compliance management, risk control, data governance, system operation and maintenance, and internal supervision, and need to strengthen the construction of a comprehensive compliance system.