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This doesn't look good.
Tencent faces record fine over WeChat payments, WSJ says
Tencent Holdings faces a record fine after China's central bank discovered its WeChat Pay had violated money-laundering rules, the Wall Street Journal reported, citing people familiar with the matter.
The People's Bank of China found Tencent's payments platform had allowed the transfer of funds for illicit purposes such as gambling, the newspaper reported. WeChat Pay was also judged non-compliant with other rules that required Tencent to identify users and merchants transacting on the platform, the Journal said
https://www.businesstimes.com.sg/banking...s-wsj-says
Tencent faces record fine over WeChat payments, WSJ says
Tencent Holdings faces a record fine after China's central bank discovered its WeChat Pay had violated money-laundering rules, the Wall Street Journal reported, citing people familiar with the matter.
The People's Bank of China found Tencent's payments platform had allowed the transfer of funds for illicit purposes such as gambling, the newspaper reported. WeChat Pay was also judged non-compliant with other rules that required Tencent to identify users and merchants transacting on the platform, the Journal said
https://www.businesstimes.com.sg/banking...s-wsj-says