Caixin
Jul 23, 2018 07:10 PM
FINANCE

Regulators Tap Tech Giants to Curb Online Finance Risks

Ant Financial Services Group has struck a deal with the port city of Tianjin to help it build a supervision platform to monitor and identify real-time financial risks and track down evidence of wrongdoing. Photo: IC
Ant Financial Services Group has struck a deal with the port city of Tianjin to help it build a supervision platform to monitor and identify real-time financial risks and track down evidence of wrongdoing. Photo: IC

* Deal with Tianjin will help port city build a supervision platform to monitor and identify real-time financial risks and track down evidence of wrongdoing

* Move comes as local authorities try to tap the technology know-how of internet companies to beef up their ability to detect online money swindling schemes

(Beijing) — Ant Financial Services Group, which operates Alipay, China’s largest online payment service, has joined the ranks of internet giants providing their technology know-how to local financial regulators in their crackdown on illegal online fundraising.

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