The first personal credit reporting agency was fined!, Violation of regulations on credit information collection | Credit reporting | Information collection
Recently, the administrative penalty information released by the People's Bank of China showed that Baixing Credit Reporting Co., Ltd. was warned and fined 515000 yuan for multiple illegal acts.
Specifically, the administrative penalty decision shows that Baixing Credit Reporting has committed the following illegal acts: firstly, violating the management regulations of credit reporting agencies; Secondly, it violates the regulations on credit information collection, provision, inquiry, and related management.
In addition, Huang Mouan, the objection handler at the Customer Service Center of Baihang Credit Reporting Operations Department at the time, was responsible for the above-mentioned violations of credit information collection, provision, inquiry, and related management regulations. The People's Bank of China fined him 71000 yuan; At that time, Wang Moufei, the team leader of the Customer Service Center of Baixing Credit Operations Department, was responsible for the violation of credit information collection, provision, inquiry, and related management regulations, and was fined 71000 yuan.
Baihang Credit is the first market-oriented company to obtain the business license for personal credit reporting, which was jointly established by the market self-discipline organization - China Internet Finance Association and eight market institutions, including Zhima Credit, Tencent Credit, Qianhai Credit, Kaola Credit, Pengyuan Credit, Zhongcheng Credit, Zhongzhi Credit and Huadao Credit, in accordance with the principle of mutual consultation, joint construction, sharing and win-win. The company was registered and established in Shenzhen on March 19, 2018, and settled in Futian with a registered capital of 1 billion yuan. In July 2020, Baixing Credit completed the business registration of enterprise credit reporting, becoming the first market-oriented credit reporting institution in China to have both personal credit reporting and enterprise credit reporting qualifications.
At its 2023 mid year work conference, Baixing Credit Information disclosed that in the first half of the year, its personal credit database added 49.94 million information subjects, including 14.98 million new credit information subjects, with a total database of 618 million people, further enhancing its data resource foundation.
In terms of product research and development, as of the end of June, the total number of Baixing Credit Reporting's external service products reached 82; In terms of market expansion, the total number of calls for all products in the first half of the year was 7.06 billion, with a daily average of over 39 million calls and a peak daily call volume exceeding 80 million. In the first half of the year, sales revenue reached 612 million yuan, a year-on-year increase of 226%; As of the end of June 2023, Baihang's credit reporting business has basically achieved full coverage of major financial institutions nationwide, with 1420 contracted financial institutions and 946 online calls.