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China Imposed First Non-Bank Payment Service Provider Fine of $3.9 Million on Zhejiang Aerospace Electronics Information Industry for Non-Compliance of Money Laundering & Violations, New Regulations for Non-Bank Payment Service Provider Effective 2024 May Impacting Companies Including Alipay & WeChat
7th June 2024 | Hong Kong
China has imposed the first non-bank payment service provider fine of $3.9 million on Zhejiang Aerospace Electronics Information Industry for non-compliance of money laundering & violations. The new regulations for non-bank payment service providers became effective in 2024 May, impacting companies including Alipay & WeChat.
“ China Imposed First Non-Bank Payment Service Provider Fine of $3.9 Million on Zhejiang Aerospace Electronics Information Industry for Non-Compliance of Money Laundering & Violations, New Regulations for Non-Bank Payment Service Provider Effective 2024 May Impacting Companies Including Alipay & WeChat “
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China Imposed First Non-Bank Payment Service Provider Fine of $3.9 Million on Zhejiang Aerospace Electronics Information Industry for Non-Compliance of Money Laundering & Violations, New Regulations for Non-Bank Payment Service Provider Effective 2024 May Impacting Companies Including Alipay & WeChat
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