On April 8, Alipay responded that in the second half of 2017, we found some problems when we were inspected by the Central Bank of Hangzhou Central Branch. We started the item-by-item improvement plan for the first time and the various improvement measures have been implemented. After completion, it has been approved by the regulatory authorities. Thanks to the supervision and guidance of the regulatory authorities, we will be more strict in our future work.'
Specifically, the central bank penalties for public announcements list three types of Alipay violations: First, in terms of customer rights, the financial consumer’s right to information is not fully guaranteed, and consumers’ right to independent choice is not fully guaranteed; the second is product promotion. , Conducting misleading publicity in video campaigns, introducing misleading publicity in Alipay's official Weibo, and accounting for the proportion of complaints that have been processed, resulting in inaccurate data released by the public; and in protecting personal information , The publicity statement stated that the collection of personal financial information was not in conformity with the minimum principle. The personal financial information was improperly used.
The Central Bank stated that it imposed a fine of RMB 30,000 on the “Administrative Measures for the Payment of Services by Non-financial Institutions”; according to the “Consumer Protection Law of the People's Republic of China”, two violations of product promotion and personal information protection were granted respectively. Warning, a fine of 100,000 yuan, 50,000 yuan, and a total fine of 180,000 yuan.
The above decision was made by the central bank of the People's Bank of China in Hangzhou. The date of the decision to impose an administrative penalty was March 22, 2018.