Chinese Government Imposes Fine of $4.2M on Chinabank Payments for its Online Gambling Links
The HALLO ECHO The HALLO ECHO https://secure.gravatar.com/avatar/3cf9bb935f1aaadc409b51e639d4cfd29e997e4c6a43c0836166fbd6393d373a?s=96&d=mm&r=gThe Chinese government has imposed a fine of RMB29.4m (US$4.2m) on Internet Banking Online (Beijing) Technology Co Ltd, aka Chinabank Payments, for its links to unauthorised online gambling sites. Chinabank, the Beijing-based payment processor, was accused of assisting mainland residents in transferring currency overseas, including to internationally licensed online gambling sites. The gambling transfers,…
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