Alipay fined for violating law on information protection

Beijing. April 11. Silkroadnews - China’s giant online payment Alipay has been fined 180,000 yuan ($29,000) by the People’s Bank of China for violating the law on protection of information, China Plus reports.
The Hangzhou branch of the People’s Bank on March 22, 2018, decided to punish Alipay for violating the rules related to the rights and interests of customers, promoting products and protecting personal information.
According to the bank, Alipay could not ensure its users’ rights for information and choice. The central bank also said that Alibaba (which belongs to Alipay) distributed false advertising and published false data about consumer complaints. Alipay is also accused of inappropriate collection and misuse of personal financial information.
Alipay issued a statement saying the company is working to address the problems identified by the central branch of the People’s Bank in Hangzhou in late 2017.