PBOC to enact anti-money-laundering regulations

The People's Bank of China will enact its first anti-money-laundering regulations next month as part of a crackdown on rampant crime and the illegal outflow of more than 200bn yuan (188.54 bn HK dollars) a year.

That total represented about 2 per cent of the mainland's gross domestic product last year, according to state media reports. From next month, the bank will introduce a series of regulations to curb money laundering in financial institutions that will be the first of their kind on the