China Gets Tough on Money Laundering

New regulations from the central bank target the use of financial institutions to launder funds obtained by criminal means. Under new rules, both renminbi and foreign currency transfers through financial institutions under the PBOC's supervision will come under heightened scrutiny.

5 minute readFebruary 28, 2003 at 11:58 PM

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& clp articles

In January 2003, the People's Bank of China (PBOC) promulgated three sets of rules relating to money laundering: theFinancial Institutions Anti-money Laundering Provisions; theLarge and Suspicious Renminbi

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