According to Article 11 of the Measures for the Administration of Reports on Large-value Transactions and Suspicious Transactions of Financial Institutions, if a financial institution discovers or has reasonable reasons to suspect that its customers, its funds or other assets, its transactions or attempted transactions are related to criminal activities such as money laundering and terrorist financing, it shall submit a suspicious transaction report regardless of the amount of funds or the value of assets involved.
Article 12 Financial institutions shall formulate their own transaction monitoring standards and be responsible for their effectiveness. Transaction monitoring standards include, but are not limited to, the identity and behavior of customers, as well as the source, amount, frequency, flow direction and nature of transactions, and should refer to the following factors:
(1) Guidelines on anti-money laundering and anti-terrorist financing laws and regulations, risk warnings, analysis reports on money laundering types and risk assessment reports issued by the People's Bank of China and its branches.
(2) analysis of crime situation, risk early warning, crime type report and work report issued by public security organs and judicial organs.
(3) The assets scale, geographical distribution, business characteristics, customer groups and transaction characteristics of the institution, and the risk assessment conclusions of money laundering and terrorist financing.
(4) Anti-money laundering supervision opinions issued by the People's Bank of China and its branches.
(5) Other factors required by the People's Bank of China.
Extended data:
Article 17 of the Measures for the Administration of Large-value Transactions and Suspicious Transaction Reports of Financial Institutions If the suspicious transaction meets any of the following circumstances, the financial institution shall report the suspicious transaction report to the local People's Bank of China or its branches in electronic or written form at the same time, and cooperate with the anti-money laundering investigation:
(a) obviously suspected of money laundering, terrorist financing and other criminal activities.
(2) Seriously endangering national security or affecting social stability.
(3) Other serious or emergency situations.
Baidu Encyclopedia-Measures for the Administration of Large Transaction and Suspicious Transaction Reports of Financial Institutions