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Andy_Mitchell_UK via flickr
It is noted that Alipay was fined for filing a declaration with incorrect data on the balance of international payments. At the same time, the regulator found out that the company exceeded the approved limit of cross-border payment transactions for payment by convertible currency in the period from January 2014 to May 2016. As a result, Alipay was fined 600,000 yuan (about 90 thousand dollars).
In turn, Tenpay was also fined 600,000 yuan (about $ 90,000) for providing services on cross-border payment transactions for payment by a convertible currency to non-residents between January 2015 and June 2017, but it did not provide the regulator with relevant documents in violation of established rules.
According to the data of the department, in the first 6 months of 2018, 1,354 cases were brought against the violation of the rules for controlling foreign exchange operations, which is 19.7% higher than the same period last year. Decisions after consideration in the relevant bodies were made in 455 cases of violations committed by financial organizations, 349 cases of violations committed by entrepreneurs and 599 by private persons.
The total amount of fines imposed for payment for this period was 345 million yuan (51.4 million dollars). The figure was 59.5% higher than in the first half of 2017.
source: reuters.com
In turn, Tenpay was also fined 600,000 yuan (about $ 90,000) for providing services on cross-border payment transactions for payment by a convertible currency to non-residents between January 2015 and June 2017, but it did not provide the regulator with relevant documents in violation of established rules.
According to the data of the department, in the first 6 months of 2018, 1,354 cases were brought against the violation of the rules for controlling foreign exchange operations, which is 19.7% higher than the same period last year. Decisions after consideration in the relevant bodies were made in 455 cases of violations committed by financial organizations, 349 cases of violations committed by entrepreneurs and 599 by private persons.
The total amount of fines imposed for payment for this period was 345 million yuan (51.4 million dollars). The figure was 59.5% higher than in the first half of 2017.
source: reuters.com
