金融机构客户尽职调查新规将至

Core Viewpoint - The article discusses the upgrade of anti-money laundering (AML) regulations in China, specifically the new guidelines for customer due diligence and record-keeping for financial institutions, which are open for public consultation until September 3, 2025 [1]. Group 1: Regulatory Framework - The new guidelines, titled "Measures for Customer Due Diligence and Customer Identity Data and Transaction Record Keeping Management" (Draft for Public Consultation), outline detailed requirements for financial institutions regarding customer due diligence processes, identity verification, and record-keeping [1][6]. - The guidelines aim to enhance the effectiveness of customer due diligence and ensure compliance with the Anti-Money Laundering Law of the People's Republic of China [6]. Group 2: Applicable Financial Institutions - Six categories of financial institutions are required to comply with the new AML obligations, including policy banks, commercial banks, rural cooperative banks, securities firms, insurance companies, and non-bank payment institutions [2][3]. - For banks, customer due diligence is mandatory for transactions exceeding RMB 50,000 or USD 10,000, while non-bank payment institutions must conduct due diligence for transactions involving prepaid cards above RMB 10,000 [2]. Group 3: Specific Requirements - Trust companies must verify the identity of clients when establishing trusts or transferring trust beneficiary rights, and maintain records of the identities of the trustor and beneficiaries [3]. - The guidelines also emphasize the importance of identifying beneficial owners and monitoring high-risk countries and individuals, aligning with international AML standards [6]. Group 4: Industry Impact - Analysts suggest that the new regulations reflect China's commitment to international AML obligations and enhance the overall risk management capabilities of financial institutions, thereby improving compliance and reducing risks associated with money laundering and terrorist financing [4][7]. - The implementation of these guidelines is expected to strengthen the financial regulatory framework, filling gaps in oversight and contributing to a safer and more transparent financial system [7].