Yesterday, the People's Bank of China issued the Measures for the Administration of Reports on Large Transactions and Suspicious Transactions of Financial Institutions in the form of Order No.2 of the People's Bank of China, which set the standard for large transactions as RMB 200,000 or foreign currency transactions with cash equivalent exceeding 1 000 USD, and the central bank can adjust this standard as needed.

Securities, futures and fund companies should report as suspicious transactions when they find that long-term idle accounts are suddenly opened for unknown reasons and a large number of securities transactions occur in a short time.

The Measures, which will be implemented in March next year 1, lists four large-value transactions and 48 suspicious transactions that need to be reported. Among them, large-value transactions include cash deposit and withdrawal, cash withdrawal, cash settlement and sale, cash remittance, cash bill payment and other forms of cash receipt and payment for a single or accumulated RMB transaction of more than 200,000 yuan or the equivalent of more than 1000 US dollars.

The measure also listed 48 suspicious transactions of commercial banks, securities and insurance financial institutions.

Among them, securities companies, futures brokerage companies and fund management companies should frequently receive and pay cash close to the standard of large cash transactions for unknown reasons, obviously avoiding the monitoring of large cash transactions; Customers frequently use the same futures contract as the target, open positions at one price and close positions at the same or roughly the same price, with the same or nearly the same amount, and withdraw funds 13 transactions or behaviors are suspicious transactions.

Commercial banks, urban credit cooperatives, rural credit cooperatives, postal savings and remittance institutions, policy banks, trust and investment companies have opened and closed multiple accounts without normal reasons, and a large amount of funds were received and paid before the accounts were closed; Repaying the loan in advance is obviously inconsistent with its financial situation, and other 18 transactions or behaviors are regarded as suspicious transactions.

The insurance company shall regard 17' s transactions or behaviors such as decentralized insurance, centralized surrender or centralized insurance, decentralized surrender and unreasonable explanation as suspicious transactions.

Further reading: How to buy insurance, which is good, and teach you how to avoid these "pits" of insurance.