HALISTER1: PBOC Tightens Anti-Money Laundering Regulations for Banks

PBOC Tightens Anti-Money Laundering Regulations for Banks

(Bloomberg) -- The central bank requires financial institutions to report cash deposits or withdrawals of more than 50,000 yuan, down from 200,000 yuan earlier, according to revised rules posted on PBOC website.
  • PBOC requires banks to report cross-border transfers of 200,000 yuan and up or foreign-currency of $10,000 and up
  • PBOC seeks to prevent money laundering and financing for terrorism
  • New rules effective July 1
  • Link to Statement:Link
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
PBCZ CH (People's Bank Of China)

To de-activate this alert, click here

UUID: 7947283