CBIRC on Luckin case: “zero tolerance” for financial frauds

In response to the financial fraud case of Luckin Coffee, China Banking and Insurance Regulatory Commission (CBIRC) stated that it has always maintained “zero tolerance” for financial frauds and has urged relevant banks to strengthen risk monitoring.

In response to the financial fraud case of Luckin Coffee, China Banking and Insurance Regulatory Commission (CBIRC) stated that it has always maintained “zero tolerance” for financial frauds and has urged relevant banks to strengthen risk monitoring.

At present, insurance companies have received claims from Luckin Coffee, the relevant investigations are still ongoing, and there are still uncertainties in the claims process.

Disclaimer: This is an article created by Michael Liang for Chinasdg.org. You can find the original article here: https://chinasdg.org/2020/04/22/cbirc-on-luckin-case-zero-tolerance-for-financial-frauds/.

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