Money laundering scrutinized
Print Edition
China’s central bank said yesterday it would bolster cross-border anti-money laundering measures with authorities in Macau with the signing of a new memorandum of understanding.
The People’s Bank of China and the Monetary Authority of Macau signed the MOU to prevent money laundering and terrorist financing activities, the PBOC said in a statement.
In a notice on its website, the PBOC said the agreement would “strengthen bilateral exchanges,” including those on anti-money laundering regulations, information exchange mechanisms and on-site inspections.
The notice did not give specific measures, however.
The PBOC also said the two sides would adopt recommendations from a global anti-money laundering body, the Financial Action Task Force, to strengthen regional supervision against money laundering.
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