Central Bank: Tencent's Tencent subsidiary Tencent's Tencent Pay has been fined nearly 3 billion yuan for management | Institution | Tencent
On the evening of July 7th, Ant Group and its subsidiaries were fined 7.123 billion yuan by the financial regulatory authorities.
On the same day, the reporter noticed that Tencent Group's relevant institutions and responsible persons received a total of 5 fines, with a penalty amount of nearly 3 billion yuan. Among them, Tenpay Payment Technology Co., Ltd. was confiscated of illegal gains exceeding 560 million yuan and fined over 2.426 billion yuan for violating consumer rights protection management regulations.
Specifically, the types of illegal behaviors of Tencent Tencent Pay include: violating institutional management regulations, violating merchant management regulations, violating settlement management regulations, violating payment account management regulations, and other illegal and irregular behaviors that endanger the stable operation of payment institutions, harm the legitimate rights and interests of customers, or harm the payment service market.
In addition, the person in charge of Tenpay Payment Technology Co., Ltd. was also fined. Wu, the then head of the Anti Money Laundering and Risk Control Department of Tenpay Payment Technology Co., Ltd., was fined 1.2 million yuan;
![Central Bank: Tencent's Tencent subsidiary Tencent's Tencent Pay has been fined nearly 3 billion yuan for management | Institution | Tencent](https://a5qu.com/upload/images/3a581430adb7a68fe9c346979e6d370f.jpg)
Wu, the product operation manager of the payment platform product department of Tenpay Payment Technology Co., Ltd. at the time, was fined RMB 996000; Chen Moubo, the then head of the payment platform product department at Tenpay Payment Technology Co., Ltd., was fined 65000 yuan; Xu Mouai, the then General Manager of Tenpay Payment Technology Co., Ltd., was fined 160000 yuan.
According to public information, Tencent Pay Technology Co., Ltd. was established in 2006 and is a subsidiary of Tencent. As of press release, Tenpay has not yet responded.