Analysis, Regulation & Supervision

China increased fines to financial firms by 2,500% in 2023

By John Crowley
Financial firms to firms
Image via Getty

Fines to financial firms by Chinese regulators leapt by nearly 2,500% last year to $1.4bn, according to an analysis by regtech Fenergo

The surge is a reflection of China’s political intentions to crack down on payment service providers within the first half of 2023. 

...

To continue reading
Request Free Trial

  • Unlimited access to all content.
  • Email alerts highlighting key industry insight.
  • Invitations to attend exclusive roundtables and events.

Read Next:

Digital & Resilience, Research
November 13, 2023

Authorities confiscate just 1% of illicit financial flows, as AML systems flounder

Basel AML Index shows even countries with strong AML/CFT controls are struggling
Read more