Fight goes on
Source: Xinhua |
February 19, 2011, Saturday
|
Print Edition
Print Edition
China's central bank said in a report released yesterday that it will intensify efforts to prevent money laundering over the next five years.
The People's Bank of China said it penalized more than 1,900 financial institutions for violating money laundering regulations from 2006 to 2010.
The anti-money laundering capabilities of financial institutions have been greatly improved, the report said.
The central bank also established a system requiring financial institutions to report suspicious transactions to the PBOC.
The report said the central bank will further improve the laws and regulations to guard against money laundering.
The People's Bank of China said it penalized more than 1,900 financial institutions for violating money laundering regulations from 2006 to 2010.
The anti-money laundering capabilities of financial institutions have been greatly improved, the report said.
The central bank also established a system requiring financial institutions to report suspicious transactions to the PBOC.
The report said the central bank will further improve the laws and regulations to guard against money laundering.
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