China’s central bank appears poised to list organisations and individuals at high risk of money laundering, as a new column detailing potential offenders has been added to the bank’s website as part of the country’s endeavours to clamp down on illicit finance.
The move comes as Beijing updates its compliance system in advance of a major international inspection this year.
In the update to its website, the Anti-Money Laundering Bureau of the People’s Bank of China added a new column under its online “Risk Warnings and Financial Sanctions” section: a list, blank as of Monday, featuring organisations and individuals deemed likely to engage in money laundering.
Wu Changhai, a professor at China University of Political Science and Law, said the planned list is a preventive measure intended to enhance early warning capacity.
