Ant Group Fined 7 Billion Chinese Yuan

Ant Group Fined 7 Billion Chinese Yuan

BEIJING, CHINA - JULY 8, 2023 - A citizen looks at an announcement issued by Ant Group on accepting and resolutely obeying the decision of administrative punishment in Beijing, China, July 8, 2023. On July 7, according to the official website of the People's Bank of China, recently, in view of the illegal activities of Ant Group and its subsidiaries in the past year in terms of corporate governance, financial consumer protection, participation in banking and insurance institutions, payment and settlement business, fulfillment of anti-money laundering obligations and fund sales business, In accordance with the Law of the People's Bank of China, the Anti-Money Laundering Law, the Banking Supervision Law, the Insurance Law, the Securities Investment Fund Law, and the Protection of Consumer Rights and Interests, the financial authorities imposed a fine (including confiscation of illegal gains) of 7.123 billion yuan on Ant Group and its subsidiaries.

  • Product Code
  • ILEA001509115
  • Registered date
  • 2023/7/08 00:00:00
  • Credit
  • CFOTO / Kyodo News Images
  • Media source
  • CFOTO
  • Media size
  • 3648 × 2432 pixel
  • Resolution
  • 72 dpi
  • Deployment size
  • 940.18(KB)*
  • Special instruction
  • China Out
    **The text may be generated by an automatic translation system**

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    Ant Group Fined 7 Billion Chinese Yuan

    Ant Group Fined 7 Billion Chinese Yuan

    BEIJING, CHINA - JULY 8, 2023 - A citizen checks the logo of Ant Group in Beijing, China, July 8, 2023. On July 7, according to the official website of the People's Bank of China, recently, in view of the illegal activities of Ant Group and its subsidiaries in the past year in terms of corporate governance, financial consumer protection, participation in banking and insurance institutions, payment and settlement business, fulfillment of anti-money laundering obligations and fund sales business, In accordance with the Law of the People's Bank of China, the Anti-Money Laundering Law, the Banking Supervision Law, the Insurance Law, the Securities Investment Fund Law, and the Protection of Consumer Rights and Interests, the financial authorities imposed a fine (including confiscation of illegal gains) of 7.123 billion yuan on Ant Group and its subsidiaries.
      Ant Group Fined 7 Billion Chinese Yuan

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      BEIJING, CHINA - JULY 8, 2023 - A citizen checks the logo of Ant Group in Beijing, China, July 8, 2023. On July 7, according to the official website of the People's Bank of China, recently, in view of the illegal activities of Ant Group and its subsidiaries in the past year in terms of corporate governance, financial consumer protection, participation in banking and insurance institutions, payment and settlement business, fulfillment of anti-money laundering obligations and fund sales business, In accordance with the Law of the People's Bank of China, the Anti-Money Laundering Law, the Banking Supervision Law, the Insurance Law, the Securities Investment Fund Law, and the Protection of Consumer Rights and Interests, the financial authorities imposed a fine (including confiscation of illegal gains) of 7.123 billion yuan on Ant Group and its subsidiaries.
        Ant Group Fined 7 Billion Chinese Yuan

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        BEIJING, CHINA - JULY 8, 2023 - A citizen checks the logo of Ant Group in Beijing, China, July 8, 2023. On July 7, according to the official website of the People's Bank of China, recently, in view of the illegal activities of Ant Group and its subsidiaries in the past year in terms of corporate governance, financial consumer protection, participation in banking and insurance institutions, payment and settlement business, fulfillment of anti-money laundering obligations and fund sales business, In accordance with the Law of the People's Bank of China, the Anti-Money Laundering Law, the Banking Supervision Law, the Insurance Law, the Securities Investment Fund Law, and the Protection of Consumer Rights and Interests, the financial authorities imposed a fine (including confiscation of illegal gains) of 7.123 billion yuan on Ant Group and its subsidiaries.
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                SHANGHAI, CHINA - JULY 7, 2023 - Ant Group exhibits at the 2023 World Artificial Intelligence Conference in Shanghai, China, July 7, 2023. Display the development achievements of trusted AI base stations, AIGC+ meta-universe, AIoT blockchain and other fields, especially noting the status of Alipay as the official partner of Hangzhou 2022 Asian Games. On the same day, it was reported that Ant Group and its subsidiaries had violated laws and regulations in corporate governance, financial consumer protection, participating in the business activities of banking and insurance institutions, engaging in payment and settlement business, fulfilling anti-money laundering obligations and carrying out fund sales business, etc., and were fined 7.123 billion yuan by the financial management department, requiring the closure of the illegal "mutual treasure" business. And compensate the interests of consumers in accordance with the law. Ant Group responded to the sincere acceptance and will further consolidate the level of c
                  Ant Group Fined 7.123 Billion Chinese Yuan

                  Ant Group Fined 7.123 Billion Chinese Yuan

                  SHANGHAI, CHINA - JULY 7, 2023 - Ant Group exhibits at the 2023 World Artificial Intelligence Conference in Shanghai, China, July 7, 2023. Display the development achievements of trusted AI base stations, AIGC+ meta-universe, AIoT blockchain and other fields, especially noting the status of Alipay as the official partner of Hangzhou 2022 Asian Games. On the same day, it was reported that Ant Group and its subsidiaries had violated laws and regulations in corporate governance, financial consumer protection, participating in the business activities of banking and insurance institutions, engaging in payment and settlement business, fulfilling anti-money laundering obligations and carrying out fund sales business, etc., and were fined 7.123 billion yuan by the financial management department, requiring the closure of the illegal "mutual treasure" business. And compensate the interests of consumers in accordance with the law. Ant Group responded to the sincere acceptance and will further consolidate the level of c
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                    Ant Group Fined 7.123 Billion RMB

                    NANJING, CHINA - JULY 7, 2023 - Aerial photo shows the office building of Ant Group in Nanjing, East China's Jiangsu province, July 7, 2023. On July 7, 2023, the China Securities Regulatory Commission (CSRC) issued a statement saying that in recent years, Ant Group and its subsidiaries have violated laws and regulations in terms of corporate governance, financial consumer protection, participation in the business activities of banking and insurance institutions, engaging in payment and settlement business, fulfilling anti-money laundering obligations and carrying out fund sales business. Ant Group and its affiliates were fined 7.123 billion yuan (including confiscation of illegal gains).
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                      Ant Group Fined 7.123 Billion RMB

                      NANJING, CHINA - JULY 7, 2023 - Aerial photo shows the office building of Ant Group in Nanjing, East China's Jiangsu province, July 7, 2023. On July 7, 2023, the China Securities Regulatory Commission (CSRC) issued a statement saying that in recent years, Ant Group and its subsidiaries have violated laws and regulations in terms of corporate governance, financial consumer protection, participation in the business activities of banking and insurance institutions, engaging in payment and settlement business, fulfilling anti-money laundering obligations and carrying out fund sales business. Ant Group and its affiliates were fined 7.123 billion yuan (including confiscation of illegal gains).