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Money Laundering
Tencent Faces Possible Record Fine for Anti-Money-Laundering Violations
HONG KONG—Chinese technology giant Tencent Holdings Ltd. TCEHY -5.19% is facing a potential record fine for violations of some central bank regulations by its WeChat Pay mobile network, as Beijing toughens its regulations for fintech platforms, according to people familiar with the matter. Financial regulators recently discovered that WeChat Pay had flouted China’s anti-money-laundering rules …