The breaches involved failures to verify the identities of users and merchants transacting on WeChat Pay, as well as the source of funds for those transactions.
March 16, 2022MYbank failed to perform customer identification obligations, preserve identity information and transaction records, and report suspicious transactions.
February 10, 2022The fine against Chongqing Fumin Bank was the largest ever against a privately owned bank. Two others were also penalised.
October 15, 2021Seven banks that have launched 'SWIFT Go' - BBVA, BNY Mellon, DNB, MYBank, SberBank, Société Générale, and UniCredit.
August 2, 2021The next phase of technical testing will explore the feasibility of using the digital yuan in cross-border payments.
May 15, 2021Ant Group, Tencent, Huawei and JD.com have revealed that they were involved in the development and testing of the digital yuan.
April 29, 2021Ant Group is drawing up a timetable to fold its financial operations into a holding company, under the guidance of regulators.
January 19, 2021The CBIRC is scrapping requirements that only allowed insurers to invest in bank bonds of large issuers based on their asset size, capital adequacy and credit rating.
May 31, 2020The framework will enable foreign banks in China to set up separate digital banking platforms, while also covering existing online-only banks WeBank, MYbank and AiBank.
January 15, 2020