China's Central Bank Warns Sunshine Life Insurance, Fines It RMB 3.144 Million

On September 11, 2026, the People's Bank of China published an administrative penalty notice, issuing a warning and a fine of RMB 3.144 million to Sunshine Life Insurance Co. , Ltd. The date of the administrative penalty decision was June 22, 2026.

The notice lists four violations: failure to conduct money-laundering risk assessments as required or to maintain corresponding risk management systems; failure to conduct customer due diligence as required; failure to report suspicious transactions as required; and providing services to, or conducting transactions with, clients of unidentified identity.