A peer-to-peer lending company has been fined 550,000 yuan ($85,000) for illegally collecting and using personal information, as well as making false claims about its history and qualifications, the city's market watchdog said yesterday.
A department of Shan Lin Financial Shanghai illegally purchased personal information via the QQ platform and collected personal information from staff, the Shanghai Industrial and Commercial Administrative Bureau said.
The department, located at Shanghai Central Plaza, used the information when phoning individuals to promote their P2P financial products.
The company also purchased and displayed certificates falsely attesting to the company's capabilities and reputation, and lied about its participation in municipal projects, the bureau said.
The case was just one example of business wrongdoing last year that was highlighted yesterday by the city's market watchdog.
In suburban Fengxian District, a farm was fined 140,000 yuan for running a false promotion.
Shanghai Juyuan Farm Co Ltd promised that anyone who reposted its promotional article on WeChat would get a free ticket that could be used to gain entry on set days in April last year.
The article claimed the attraction was over 15 hectares, was established with an investment of 37 million yuan and would open in April.
However, the farm failed to open on time due to approval problems, and people who reposted the article did not get their free tickets, according to the bureau. The real size of the farm and investment were 119.5 mu and 1.19 million yuan.
The farm took advantage of new media to mislead consumers, which infringed on their rights, the bureau said.
The article was reposted about 200,000 times.
Boyi Medical Appliances (Shanghai) Co Ltd was fined 100,000 yuan for fabricating transaction records for its store on Alibaba's retail platform Tmall, the watchdog reported.
And finally, a cosmetics shop selling imported products from South Korea on Taobao was given an administrative penalty by the bureau after the owner could not prove the cosmetics were legally imported from the country.