Core Viewpoint - The article discusses the draft of the "Management Measures for Customer Due Diligence and Customer Identity Information and Transaction Record Keeping by Financial Institutions," aimed at preventing money laundering and terrorist financing activities while regulating customer due diligence and record-keeping practices in financial institutions [1] Group 1 - The draft does not mention the previous requirement for individuals to register the source of funds for cash withdrawals exceeding 50,000 RMB [1] - Financial institutions are required to conduct customer due diligence for one-time financial services with transaction amounts exceeding 50,000 RMB or equivalent to 10,000 USD, and to record basic customer identity information [1] - Financial institutions must retain copies of valid identification documents or other proof of identity for customers [1] Group 2 - The draft specifies that customer identity information and transaction records must be retained for at least 10 years after the business relationship or transaction ends [1] - Financial institutions are encouraged to gradually implement electronic methods for high-quality preservation of customer information and transaction records [1]