Anti-Financial Crime & Financial Crime Compliance
Regulatory Intelligence Leadership | Insight | Network

AML, Compliance, Financial Crime

Chinese tech giant Tencent Holdings facing potential record-breaking fine for AML failures

By Elizabeth Hearst for AMLi

Chinese technology giant Tencent is facing a potential record breaking fine over violations by its WeChat Pay mobile network of Central Bank regulations. 

Financial regulators from The People’s Bank of China discovered that WeChat Pay had compliance failures in its KYC framework during a recent inspection. 

AML Intelligence
Subscribe now to have unlimited access

With our subscription, you will have unlimited access to the AML Intelligence site, updated daily with the latest analysis, opinion, and breaking news across the sector, newsletter delivered twice per week, access to our Global Bank Fines & Penalties database, free access to Boardroom Series and more!