The Central Commission for Discipline Inspection revisited the case of Yao Qian's use of virtual currency power and money transactions, emphasizing the importance of technology supervision in the financial sector
On February 17, the website of the National Supervisory Commission of the Central Commission for Discipline Inspection of China recently published an article pointing out that the risks of integrity in the construction of financial information systems are increasingly prominent, especially the problems of "difficult management, difficult supervision and difficult accountability" caused by high professional and technical barriers.
When the Discipline Inspection and Supervision Team of the State Supervision Commission of the Central Commission for Discipline Inspection investigated and dealt with the corruption case of Yao Qian, the former director of the Science and Technology Supervision Department of the Securities Supervision Commission, it found that he used virtual currency to conduct power and money transactions, which was highly concealed and difficult to collect evidence. Yao Qian accepted huge bribes through job convenience and provided help to others in information system procurement, involving project contracting, fund allocation and other links.
In response to the problems exposed by the case, the Discipline Inspection and Supervision Team put forward supervision opinions to the Party Committee of the Securities Supervision Commission, urging the strengthening of the prevention and control of integrity risks in information system procurement, and the strengthening of system construction and implementation. At the same time, it is emphasized that it is necessary to strengthen the education and management supervision of professional and technical cadres, especially the "top leaders", correct some cadres' wrong thinking that their integrity risks are small, and enhance their political awareness and awareness of discipline and rules.
In November last year, Yao Qian was subject to disciplinary review and supervision investigation by the Discipline Inspection and Supervision Group of the State Supervision Commission of the Central Commission for Discipline Inspection and the Shanwei Supervisory Commission of Guangdong Province for serious violations of discipline and law. The case further highlights the importance of integrity risk prevention and control in the field of fintech supervision.