Chinese authority ramped up its crackdown on money laundering and terrorist financing last year, with penalties for violations of related regulations surging almost 55 per cent from 2017 and meanwhile, the tightening scrutiny expanded into non-financial sectors.
The People’s Bank of China (PBOC) imposed totaling 166 million yuan penalties on institutions for violating money-laundering regulations in 2018, surging 54.6 per cent from a year earlier, according to a recent statement released by the . . .
To continue reading, please subscribe. You will get
- IN-DEPTH & DATA-DRIVEN reporting about key trends in China's economy and financial markets
- DETAILS MATTER - we bring you details that you won't find elsewhere
- THE WIRE - up-to-the-minute updates of market-moving news and views
- DAILY BRIEF - daily newsletter to give you a quick overview of the most important business news every day.
LIMITED-TIME OFFER - 40% OFF
We highly value independence. We are solely funded by subscriptions from intelligent readers like you.
Already have an account? Sign In