WeChat requires some user IDs in fight against money laundering

Updated 2017-07-26 16:44:01 Ecns.cn

(ECNS) -- Users of social networking app WeChat are urged to upload their IDs if their accounts have savings of over 5,000 yuan (0) for 10 days in a row so they can continue using digital payments.

WeChat, a wildly popular mobile phone app from Internet giant Tencent, said it issued the notice as required by a regulation by China's central bank in 2010 to fight money laundering and fundraising by terrorists.

The regulation stipulates that people should show their IDs or have them verified in certain situations. Those who have a balance of over 5,000 yuan or equivalent to ,000 in their bank accounts for 10 consecutive days need to provide an ID. Other situations regulated include transactions of 10,000 yuan or ,000.

The user agreement of WeChat's digital payment already includes the same requirements, according to Beijing Youth Daily.

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