In accordance with the "Anti-Money Laundering Law of the People's Republic of China", the "Law of the People's Republic of China on the People's Bank of China" and other legal provisions, the People's Bank of China has formulated the "Large-Amount Transactions and Regulations of Financial Institutions" "Measures for the Management of Suspicious Transaction Reports", adopted at the 25th President's Office Meeting on November 6, 2006, are hereby promulgated and shall come into effect on March 1, 2007.

President Zhou Xiaochuan

November 14, 2006

Content

Editor

In order to prevent the use of financial institutions for money laundering activities and regulate the reporting of large transactions and suspicious transactions by financial institutions, in accordance with the Anti-Money Laundering Law of the People's Republic of China and the Anti-Money Laundering Law of the People's Republic of China, *** Law of the People's Republic of China on the People's Bank of China and other relevant laws and administrative regulations, these Measures are formulated.

Article 2

These Measures apply to the following financial institutions legally established within the territory of the People's Republic of China:

(1) Commercial banks, Urban credit cooperatives, rural credit cooperatives, postal savings and remittance institutions, and policy banks.

(2) Securities companies, futures brokerage companies, and fund management companies.

(3) Insurance companies and insurance asset management companies.

(4) Trust investment companies, financial asset management companies, finance companies, financial leasing companies, automobile finance companies, and currency brokerage companies.

(5) Other financial institutions determined and announced by the People's Bank of China.

These Measures are applicable to the reporting of large-value transactions and suspicious transactions by institutions engaged in exchange business, payment and clearing business, and fund sales business.

Article 3

The People's Bank of China and its branches shall supervise and inspect the performance of financial institutions' reporting of large-value transactions and suspicious transactions.

Article 4

The People's Bank of China has established the China Anti-Money Laundering Monitoring and Analysis Center, which is responsible for receiving reports on large-value transactions and suspicious transactions in RMB and foreign currencies.

If the China Anti-Money Laundering Monitoring and Analysis Center finds that the large transaction report or suspicious transaction report submitted by a financial institution has incomplete elements or contains errors, it may issue a correction notice to the financial institution that submitted the report. The financial institution shall Corrections will be made within 5 working days after receiving the notice of correction.

Article 5

Financial institutions should set up special anti-money laundering positions and specify dedicated personnel to be responsible for reporting large-value transactions and suspicious transactions.

Financial institutions shall formulate internal management systems and operating procedures for reporting large-value transactions and suspicious transactions in accordance with these Measures, and report them to the People's Bank of China.

Financial institutions shall supervise and manage the implementation of large-value transaction and suspicious transaction reporting systems of subordinate branches.

Article 6

Financial institutions and their staff shall keep confidential the reports of suspicious transactions and shall not provide them to any unit or individual in violation of regulations.

Article 7

A financial institution shall, within 5 working days after the occurrence of a large-value transaction, promptly submit an electronic notification to China through its headquarters or an institution designated by the headquarters. The Anti-Money Laundering Monitoring and Analysis Center submits large transaction reports. If there is no headquarters or it is impossible to report large-value transactions to the China Anti-Money Laundering Monitoring and Analysis Center through the headquarters and the institution designated by the headquarters, the reporting method shall be determined separately by the People's Bank of China.

Large-value transactions made by customers through accounts or bank cards opened at domestic financial institutions will be reported by the financial institution that opened the account or the card-issuing bank; large-value transactions made by customers through overseas bank cards will be reported by the financial institution that opened the account or the card-issuing bank. It is reported by the acquiring bank; large-value transactions that are not carried out by customers through accounts or bank cards are reported by the financial institution that handles the business.

Article 8

A financial institution shall report suspicious transactions to its headquarters, which shall report suspicious transactions to its headquarters or an institution designated by the headquarters within 10 working days after the suspicious transactions occur. Submit electronically to the China Anti-Money Laundering Monitoring and Analysis Center. If there is no headquarters or it is impossible to report suspicious transactions to the China Anti-Money Laundering Monitoring and Analysis Center through the headquarters and the institution designated by the headquarters, the reporting method shall be determined separately by the People's Bank of China.

Article 9

Financial institutions shall report the following large-value transactions to the China Anti-Money Laundering Monitoring and Analysis Center:

(1) Single or cumulative RMB transactions on the same day Cash deposits, cash withdrawals, cash settlement and sales of foreign exchange, cash exchanges, cash remittances, cash bill payments and other forms of cash receipts and payments of more than 200,000 yuan or a foreign currency transaction equivalent of more than 10,000 US dollars.

(2) A single transfer or a daily cumulative transfer of more than 2 million yuan or a foreign currency equivalent of more than 200,000 US dollars between the bank accounts of legal persons, other organizations and individual industrial and commercial households.

(3) Between the bank accounts of natural persons, and between the bank accounts of natural persons and legal persons, other organizations and individual industrial and commercial households, a single transaction or a cumulative total of more than 500,000 yuan or a foreign currency equivalent of more than 100,000 US dollars on the same day Money transfer.

(4) One party to the transaction is a natural person, and the cross-border transaction is worth more than US$10,000 in a single transaction or on a cumulative basis on that day.

The cumulative transaction amount is based on a single customer, and is calculated and reported unilaterally based on the income or payment of funds, unless otherwise specified by the People's Bank of China.

Customers and securities companies, futures brokerage companies, fund management companies, insurance companies, insurance asset management companies, trust investment companies, financial asset management companies, finance companies, financial leasing companies, auto finance companies, currency brokers Where companies, etc. conduct financial transactions and transfer funds through bank accounts, commercial banks, urban credit cooperatives, rural credit cooperatives, postal savings and remittance institutions, and policy banks shall comply with paragraphs (2), (3), and (4) of paragraph 1. Submit large-value transaction reports to the China Anti-Money Laundering Monitoring and Analysis Center in accordance with the provisions of the item.

The People's Bank of China may adjust the large-amount transaction standards specified in paragraph 1 as necessary.

Article 10

For large transactions that meet one of the following conditions, if the transaction is not found to be suspicious, the financial institution may not report it:

( 1) After the time deposit matures, it is not directly withdrawn or transferred, but the principal or the principal plus all or part of the interest is renewed and deposited into another account under the same name opened at the same financial institution.

The principal of a demand deposit or the principal plus all or part of the interest is converted into a time deposit in another account under the same name opened at the same financial institution.

The principal of a time deposit or the principal plus all or part of the interest is converted into a current deposit in another account under the same name opened at the same financial institution.

(2) Conversion between different foreign currencies during the actual foreign exchange purchase and sale transactions of natural persons.

(3) One party to the transaction is party agencies, state power agencies, administrative agencies, judicial agencies, military agencies, People's Political Consultative Conference agencies and the People's Liberation Army and Armed Police Forces at all levels, but does not include various types of subordinates Enterprises and institutions.

(4) Inter-bank lending by financial institutions and bond transactions in the inter-bank bond market.

(5) Gold transactions conducted by financial institutions on gold exchanges.

(6) Internal allocation of funds by financial institutions.

(7) Transactions under the loan on-lending business of international financial organizations and foreign governments.

(8) Debt swap transactions under loans from international financial organizations and foreign governments.

(9) Taxation, correction of wrong accounts, and interest payments initiated by commercial banks, urban credit cooperatives, rural credit cooperatives, postal savings and remittance institutions, and policy banks.

(10) Other circumstances determined by the People's Bank of China.

Article 11

Commercial banks, urban credit cooperatives, rural credit cooperatives, postal savings and remittance institutions, policy banks, and trust investment companies shall treat the following transactions or behaviors as suspicious Transaction reporting:

(1) Dispersed transfers in, concentrated transfers out, or centralized transfers in, scattered transfers out in the short term, which are obviously inconsistent with the customer's identity, financial status, and business operations.

(2) Frequent fund receipts and payments occur between the same payee and payee in the short term, and the transaction amount is close to the large-amount transaction standard.

(3) Legal persons, other organizations and individual industrial and commercial households frequently receive remittances in the short term that are obviously unrelated to their business operations, or natural person customers frequently receive remittances from legal persons or other organizations in the short term.

(4) Accounts that have been idle for a long time are suddenly activated for unknown reasons or accounts that usually have small capital flows suddenly have abnormal fund inflows, and a large amount of funds are received and paid in a short period of time.

(5) Fund transactions with customers from areas with serious drug trafficking, smuggling, terrorist activities, gambling, or tax avoidance offshore financial centers have increased significantly in a short period of time, or large amounts of funds have been collected frequently. pay.

(6) There are no normal reasons for opening and closing long accounts, and a large amount of funds are received and paid before the account is closed.

(7) Early repayment of the loan is obviously inconsistent with its financial status.

(8) Most of the foreign exchange and RMB funds purchased by customers for overseas investment are in cash or transferred from bank accounts with different names.

(9) The customer requests swap business between domestic and foreign currencies, but the source and use of the funds are suspicious.

(10) Customers often deposit traveler's checks or foreign currency draft deposits issued overseas, which is inconsistent with their business conditions.

(11) Foreign-invested enterprises invest in foreign currency cash or quickly transfer funds overseas in a short period of time after receiving investment funds, which is inconsistent with their production and operation payment needs.

(12) The amount of capital invested by the foreign party in a foreign-invested enterprise exceeds the approved amount or the direct foreign debt borrowed is remitted from a third country that has no associated enterprises.

(13) Securities operating institutions instruct banks to transfer funds unrelated to securities trading and clearing, which is inconsistent with their actual operating conditions.

(14) Securities operating institutions frequently borrow large amounts of foreign exchange funds through banks.

(15) Insurance institutions frequently pay large amounts of compensation or cancel insurance policies to the same policy holder through banks.

(16) Frequent cash receipts and payments in bank accounts of natural persons with suspicious circumstances, or large one-time cash deposits and withdrawals with suspicious circumstances.

(17) After a resident natural person frequently receives foreign exchange remitted from abroad, he or she requires the bank to issue a traveler’s check or a money order, or a non-resident natural person frequently deposits foreign currency cash and requires the bank to issue a traveler’s check or a money order to take it out. Or make frequent orders and cash large amounts of traveler's checks and money orders.

(18) When multiple domestic residents accept remittances from an offshore account, the transfer and settlement of funds are operated by one person or a small number of people.

Article 12

Securities companies, futures brokerage companies, and fund management companies shall report the following transactions or behaviors as suspicious transactions:

(1) ) Cash receipts and payments close to the standards for large-amount cash transactions frequently occurred in customer fund accounts for unknown reasons, clearly evading the monitoring of large-amount cash transactions.

(2) Customers who have no transactions or a small transaction volume request to transfer a large amount of funds to other people's accounts without any obvious transaction purpose or use.

(3) The customer’s securities account has been idle for a long time, while the capital account frequently receives and pays large amounts of funds.

(4) Accounts that have been idle for a long time are suddenly activated for unknown reasons, and a large number of securities transactions occur in a short period of time.

(5) Having business contacts with countries and regions with high risk of money laundering.

(6) Buying and selling securities in large quantities in a short period of time after opening an account, and then closing the account quickly.

(7) The customer has not conducted futures transactions for a long time or has conducted a small amount of futures transactions, but a large amount of funds have been received and paid in his capital account.

(8) Customers who have not traded futures for a long time suddenly frequently trade futures for unknown reasons in the short term with huge amounts of funds.

(9) The customer frequently uses the same futures contract as the underlying, opens a position at one price, and opens a reverse position at the same or approximately the same price, with the same amount or close to the same amount, and then closes the position and is eliminated. , withdraw funds.

(10) When the customer, as a seller of futures transactions, delivers imported goods, he cannot provide complete customs declaration documents and tax payment vouchers, or provide forged or altered customs declaration documents and tax payment vouchers.

(11) The client requires fund shares to be transferred without trading and cannot provide legal supporting documents.

(12) Customers frequently transfer custody of fund units without reasonable reasons.

(13) The customer requests to change his or her information, but the relevant documents provided are suspected of being forged or altered.

Article 13

Insurance companies shall report the following transactions or behaviors as suspicious transactions:

(1) Decentralized insurance coverage and centralized withdrawal of insurance in the short term Insurance or centralized insurance, scattered withdrawal of insurance without reasonable explanation.

(2) Frequently taking out insurance, surrendering insurance, changing insurance types or insurance amounts.

(3) Paying special attention to insurance companies’ auditing, underwriting, claims settlement, benefits and surrender regulations, but not paying attention to the protection functions and investment returns of insurance products.

(4) When surrendering the policy during the hesitation period, it is reported that a large amount of invoices have been lost, or the same policyholder has surrendered the policy multiple times within a short period of time and the total amount of lost invoices reaches a large amount.

(5) It is found that the information obtained about the name, title, address, contact information or financial status of the policy holder, the insured and the beneficiary is untrue.

(6) The insurance product purchased is obviously inconsistent with the stated needs, and the financial institution and its staff still insist on purchasing it after explanation.

(7) Purchasing large-amount insurance policies in single payment is inconsistent with the financial situation.

(8) A large premium policy surrenders during the hesitation period, surrenders the policy within a short period of time after the effective date of the insurance contract, or withdraws the cash value, and requires the surrender funds to be transferred to a third-party account or a non-payment account.

(9) Not paying attention to the large monetary losses that may result from the surrender of the policy, but insisting on surrendering the policy without being able to reasonably explain the reasons for the surrender.

(10) Obviously overpaying the insurance premium payable for the current period and immediately requesting the return of the excess amount.

(11) Insurance brokers pay premiums on their behalf, but cannot explain the source of funds.

(12) Legal persons or other organizations insist on refunding premiums in cash or by transferring them to non-payment accounts, and cannot reasonably explain the reasons.

(13) The initial premium or single premium of a legal person or other organization shall be paid from an account other than that of the unit or from an overseas bank account.

(14) Payment of natural person insurance premiums through a third party without reasonable explanation of the relationship between the third party and the policy holder, insured and beneficiary.

(15) Having business contacts with countries and regions with high risk of money laundering.

(16) Without reasonable reasons, the policy holder insists on using cash to purchase insurance, make compensation, pay insurance premiums, return insurance premiums and cash value of the policy, or pay other funds in large amounts.

(17) When an insurance company pays compensation or insurance benefits, the customer requests that the funds be remitted to a third party other than the insured or beneficiary; or the customer requests that the insurance premium and policy be refunded The cash value is remitted to someone other than the policyholder.

Article 14

Except for the circumstances specified in Articles 11, 12, and 13 of these Measures, financial institutions and their staff discover that the amount, frequency, and If there are any abnormalities in the flow, nature, etc., and if analysis indicates that the transaction is suspected of money laundering, a suspicious transaction report shall be submitted to the China Anti-Money Laundering Monitoring and Analysis Center.

Article 15

Financial institutions shall analyze and identify the transactions involved in all suspicious transaction reports submitted to the China Anti-Money Laundering Monitoring and Analysis Center in accordance with these Measures, and have reasonable grounds. If it is believed that the transaction or customer is related to money laundering, terrorist activities or other illegal and criminal activities, it should report it to the local branch of the People's Bank of China at the same time and cooperate with the People's Bank of China's anti-money laundering administrative investigation.

Article 16

For transactions that are both large-value transactions and suspicious transactions, financial institutions shall submit large-value transaction reports and suspicious transaction reports respectively.

If a transaction meets two or more large-amount transaction standards at the same time, the financial institution shall submit separate large-amount transaction reports.

Article 17

Financial institutions shall provide true, complete and accurate information in accordance with the requirements for reporting elements of large-value transactions and suspicious transactions attached to these Measures (see the attached table for the content of elements). Transaction information, and prepare electronic files of large transaction reports and suspicious transaction reports. The specific reporting format and filling requirements will be separately stipulated by the People's Bank of China.

Article 18

If a financial institution violates these Measures, the People's Bank of China shall, in accordance with Articles 31 and 3 of the Anti-Money Laundering Law of the People's Republic of China, Penalties shall be imposed in accordance with the provisions of Article 12; distinguishing between different situations, it is recommended that the China Banking Regulatory Commission, China Securities Regulatory Commission or China Insurance Regulatory Commission take the following measures:

(1) Order financial institutions to suspend operations for rectification or revoke its business license.

(2) Cancel the qualifications of directors, senior managers and other directly responsible personnel of financial institutions and prohibit them from engaging in relevant financial industry work.

(3) Order financial institutions to impose disciplinary sanctions on directly responsible directors, senior managers and other directly responsible personnel.

If the county (city) branch of the People's Bank of China discovers that a financial institution has violated these Measures, it shall report it to its superior branch, which shall impose penalties or make suggestions in accordance with the provisions of the preceding paragraph.

Article 19

Where the People's Bank of China and its branches at or above the prefectural and central level impose administrative penalties on financial institutions that violate these Measures, they shall abide by the "Administrative Regulations of the People's Bank of China" "Penalty Procedure Provisions".

Article 20

The following terms in these Measures have the following meanings:

"Short-term" refers to within 10 working days, inclusive.

"Long-term" refers to more than 1 year.

“Large amount” refers to the transaction amount that is lower than but close to the large-amount transaction standard either individually or cumulatively.

“Frequent” means that transactions occur more than three times a day on a business day, or occur every day for more than three days on a business day.

"Above" includes this number.

Article 21

These Measures shall come into effect on March 1, 2007. On January 3, 2003, the People's Bank of China issued the "Administrative Measures for Reporting Large-Amount and Suspicious RMB Payment Transactions" (People's Bank of China Order [2003] No. 2) and the "Administrative Measures for Reporting Large-Amount and Suspicious Foreign Exchange Fund Transactions by Financial Institutions" (People's Bank of China Order [2003] No. 3) shall be abolished at the same time.

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