HKMA fines WeChat Pay HK$875k for due diligence failures
HK Monetary Authority, 30-Aug-2024
Webb-site calculates that the fine is equal to about 3 minutes and 38 seconds of the 2023 net profit of parent Tencent (0700). The HKMA cites "the need to send a clear deterrent message to the industry".

• Orgs
  • TENCENT HOLDINGS LIMITED
• Topics
  • Money laundering