China's c bank outlines money laundering rules

The People's Bank of China's first major policy directive under the helm of its new governor, Zhou Xiaochuan, outlines new measures to combat money laundering through the country's domestic banking system.

The new rules require domestic financial institutions to certify the identity of all new account holders in order to prevent the fraudulent use of domestic banks by terrorists, drug traffickers and smugglers, a statement issued Monday on the central bank's web site said.

The guidelines speci

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