China launches three-year anti-money laundering campaign
Add BT as a preferred source[SHANGHAI] China has launched a three-year campaign to fight money laundering in a bid to safeguard national security and social stability, according to a government statement.
The campaign, which started this year and will last until the end of 2024, is led by the People's Bank of China (PBOC) and the Ministry of Public Security, according to a statement on the central government website.
"The situation of combating money laundering remains severe," the statement said.
China will "resolutely curb the spread of money laundering and related crimes," it added.
The announcement of the campaign, which involves 11 Chinese government bodies, comes as China on Wednesday published revised rules designed to strengthen financial firms' anti-money laundering ability. REUTERS
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Share with us your feedback on BT's products and services
TRENDING NOW
DeepSeek founder Liang Wenfeng becomes the world’s richest AI model creator
Singapore fuel distributor Global Group doubles down on Timor-Leste with US$10 million oil terminal
Early payout from Philippines’ Maharlika Investment Fund raises eyebrows over its true nature
Flight to safety: New citizens and PRs drive Singapore luxury home sales as broader market cools
