Tag: Risk-based approach

Anti-money laundering in China: moving to a risk-based approach

On March 1, 2022, the Measures for Financial Institutions on Customer Due Diligence and Client ID Information, and Transaction Records Management (‘Measures’) came effective. The Measures issued by the People's Bank of China, the Bank of China insurance regulatory commission, and the China Securities Regulatory Commission align with the current financial landscape, and international anti-money…

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