“一行一局一会”出手！拟进一步规范金融机构客户尽调

Core Viewpoint - The article discusses the release of the "Management Measures for Customer Due Diligence and Customer Identity Information and Transaction Record Keeping by Financial Institutions" draft by Chinese regulatory authorities, aiming to enhance customer due diligence practices in line with international standards [1][2]. Group 1: Regulatory Requirements - The new measures emphasize the need for financial institutions to conduct customer due diligence based on risk, identifying and verifying customer identities and their beneficial owners [4]. - Financial institutions are required to continuously monitor and assess the overall status and transaction activities of customers to understand their money laundering risks [4]. - Enhanced due diligence measures must be taken for customers with higher risks of money laundering or terrorist financing [4]. Group 2: Customer Identification and Reporting - Financial institutions must conduct due diligence when there are reasonable grounds to suspect money laundering or terrorist financing, or when establishing business relationships involving significant financial services [4]. - If there are reasonable grounds to suspect a customer is involved in money laundering or terrorist financing, institutions may refrain from conducting due diligence if it could lead to a breach of confidentiality, but must submit a suspicious transaction report [4]. Group 3: Transaction Monitoring - For cross-border remittances exceeding RMB 5,000 or the equivalent of USD 1,000, financial institutions must verify the identity of the remitter and ensure the accuracy of the information [5]. - Institutions must take reasonable measures to verify the identity of the remitter regardless of the amount if there are suspicions of money laundering or terrorist financing [5]. Group 4: Simplified Due Diligence - Simplified due diligence does not exempt financial institutions from verifying customer identities; at a minimum, institutions must record customer names or identification information and retain necessary identity documentation [6].