Central Bank Revokes Four Anti-Money Laundering Regulatory Documents

Deep News
02/27

On February 27, the People's Bank of China announced that it has decided to abolish four regulatory documents related to anti-money laundering efforts. The decision was made in light of practical developments in anti-money laundering work. The revoked documents include: "Notice on Further Strengthening Anti-Money Laundering Work in Financial Institutions" (Yin Fa [2008] No. 391), "Notice on Issuing the Guidelines for Money Laundering and Terrorist Financing Risk Assessment and Customer Classification Management for Financial Institutions" (Yin Fa [2013] No. 2), "Notice on Strengthening Account Opening Management and Follow-up Control Measures for Suspicious Transaction Reports" (Yin Fa [2017] No. 117), and "Notice on Anti-Money Laundering Management Matters Related to the 'Three Certificates in One' Registration System Reform" (Yin Ban Fa [2016] No. 110). Relevant matters will now be handled in accordance with newly revised anti-money laundering regulations and regulatory documents.

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