The Wall Street Journal reported that TENCENT may face huge fine for not following the CN Money-laundering Rules. TENCENT (00700.HK) WeChat Pay is facing a record-high fine for the suspected breach of People’s Bank of China’s anti-money-laundering rules. The Chinese regulatory agency has recently discovered that WeChat Pay was not following China’s anti-money-laundering rules and not in compliance with the KYC “know your customer” and CDD “know your business” regulations. Meanwhile, WeChat Pay was found to have allowed fund transfer and money laundering through gambling and other illicit deals. China is a member of the international FATF “Financial Action Task Force”.