央行等三部门重磅发布：取消“个人存取现金超5万元需登记”规定

Core Viewpoint - The new regulations issued by the People's Bank of China and other financial authorities emphasize a risk-based approach to customer due diligence, allowing financial institutions to tailor their inquiries based on the risk level associated with transactions and customers [3][9]. Summary by Sections Regulatory Changes - The requirement for customers to register the source of funds for cash withdrawals exceeding 50,000 yuan has been removed, aligning with previous drafts [4]. - Starting January 1, 2026, financial institutions must maintain customer identity information and transaction records securely and accurately, ensuring they can reproduce each transaction for due diligence and suspicious activity investigations [8]. Risk-Based Approach - The regulations mandate that financial institutions conduct customer due diligence based on the characteristics of the customer and the nature of the transactions, balancing anti-money laundering measures with the need to optimize financial services [9]. - Institutions are encouraged to simplify procedures for low-risk customers while implementing enhanced due diligence for high-risk scenarios [9]. Practical Examples - For instance, elderly customers receiving pensions are considered low-risk, requiring only basic identity verification without additional documentation [10][11]. - Conversely, if a university student suddenly receives multiple large transfers inconsistent with their usual transaction patterns, banks must initiate enhanced investigations to verify the source and purpose of the funds [12][13].