![]() ![]() ![]() ![]() read moreĬhina recently launched a three-year campaign led by the PBOC and the Ministry of Public Security, to fight money laundering. Tencent -owned WeChat, China’s largest messaging app and one of the country’s biggest payment services, will begin supporting the country’s sovereign digital currency. Last year, China fined Alibaba Group Holding Ltd (9988.HK) a record 18 billion yuan ($2.83 billion) for the company's anti-monopoly violations. March 14 (Reuters) - Tencent Holdings Ltd (0700.HK) is facing a potential fine, which could be at least hundreds of millions of yuan, for violating some central bank regulations on its WeChat. Shortly after the launch of the app, the Tencent-owned messaging app and payment platform WeChat announced that it. an online wallet dedicated to the digital currency through WeBank (a virtual banking service provided by Tencent). The mobile payments network was also found to have permitted the transfer and laundering of funds with illicit transactions such as gambling, the report said. Wechat china ecny wechat 800m mauskharpalcnbc admin 0 Comments Facebook Twitter Pinterest LinkedIn He declined to share his full name because he fears his criticism could draw retaliation against himself or his family by the authorities in China, where he travels often and where most of his family lives. The PBOC uncovered the violations during a routine inspection of WeChat Pay that concluded in late 2021, according to the Journal. Shares in the Chinese technology giant fell around 10% on the report. Tencent and China's central bank, the People's Bank of China (PBOC), did not immediately respond to Reuters' request for comment. March 14 (Reuters) - Tencent Holdings Ltd (0700.HK) is facing a potential fine, which could be at least hundreds of millions of yuan, for violating some central bank regulations on its WeChat Pay mobile network, the Wall Street Journal reported on Monday, citing people familiar with the matter.įinancial regulators recently found that WeChat Pay had broken China's anti-money-laundering rules and had lapses in compliance with "know your customer" and "know your business" regulations, the Journal said. ![]()
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