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Ant Group Fined 7.123 Billion Chinese Yuan

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 compliance governance, the US stock market opened on the evening of the 7th, Alibaba rose 3.47%. (Photo by Costfoto/NurPhoto)

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