By Vish Gain for AMLi
CHINA’S CENTRAL BANK has tripled its anti-money laundering fines in 2020 compared to the previous year, a new report has found.
The People’s Bank of China (PBOC) issued AML fines worth CNY 628 million (€80 million) last year, of which failure to perform customer identification and report suspicious transactions were the most common reasons.
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