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Chinese payment encryption device suppliers fined for participation in government orchestrated cartel

24 November 2016

On 4 November 2016, the State Administration for Industry and Commerce ("SAIC") – one of China's antitrust authorities – published on its website three decisions, whereby three payment encryption device suppliers were fined by SAIC's branch in Anhui Province ("Anhui AIC"). Payment encryption devices are used by bank customers to protect the security of payments from their bank accounts. 

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