央行：贵金属和宝石机构买卖10万元以上须履行反洗钱义务

Core Viewpoint - The People's Bank of China has issued a new regulation aimed at preventing money laundering and terrorist financing in the precious metals and gemstones sector, effective from August 1, 2025, requiring institutions to report large cash transactions of 100,000 RMB or more within five working days [1][3]. Group 1: Regulatory Framework - The new regulation establishes a systematic regulatory framework to mitigate risks associated with money laundering and terrorist financing in the precious metals and gemstones market [1]. - Precious metals include gold, silver, platinum, and their various forms, while gemstones refer to natural stones like diamonds and jade [1]. - Institutions involved in precious metals and gemstones trading, such as the Shanghai Gold Exchange and the China Gemstone and Jewelry Trade Association, are required to comply with the new regulations [1]. Group 2: Risk Management and Compliance - The regulation outlines seven characteristics of suspicious transactions, including sudden large transactions from inactive accounts and significant discrepancies in physical inventory [2]. - Institutions must conduct customer due diligence based on the risk profile of the client before or after transactions, especially for cash transactions of 100,000 RMB or more [2][3]. - A risk-based approach is mandated, with enhanced scrutiny for high-risk institutions and simplified measures for low-risk entities [3]. Group 3: Operational Requirements - Institutions are required to establish internal controls for anti-money laundering, appoint dedicated personnel, and conduct regular risk assessments, with a maximum cycle of three years [3]. - Any suspicious transaction, regardless of amount, must be reported immediately, and customer identity and transaction records must be retained for at least ten years [3]. - Special measures are mandated for transactions involving entities on terrorist lists or under UN sanctions, requiring immediate cessation of services and restrictions on fund transfers [3]. Group 4: Legal Accountability - The regulation includes a mechanism for accountability, imposing penalties on regulatory personnel, self-regulatory organization staff, and institutions for violations, with severe cases referred to judicial authorities [4].