Editor’s Note
This report highlights a targeted training initiative by China’s central bank to bolster anti-money laundering compliance within a specific high-value industry. Such efforts are crucial for strengthening financial integrity and mitigating systemic risks.
On the morning of July 10, under the guidance of the Anti-Money Laundering Office of the People’s Bank of China (PBOC) Guangdong Provincial Branch, the Chaozhou City Branch of the PBOC organized a customer anti-money laundering (AML) training session for the precious metals and gemstones industry. This training aimed to strengthen the industry’s awareness of AML compliance, enhance risk prevention and control capabilities, and promote the healthy development of the sector.
This event invited representatives from 13 precious metals and gemstones enterprises recommended by 9 banking institutions to participate. At the event site, business backbones from the AML department of the PBOC Chaozhou City Branch provided policy interpretations of the newly revised “Anti-Money Laundering Law of the People’s Republic of China” and “Administrative Measures for Anti-Money Laundering and Counter-Terrorist Financing for Precious Metals and Gemstones Industry Institutions.” Simultaneously, by analyzing typical money laundering cases that have occurred in recent years, they dissected common money laundering methods and risk points within the precious metals and gemstones industry, guiding customers to enhance their AML awareness, improve AML capabilities, and effectively identify and prevent suspicious transactions.
During the interactive session, training representatives actively raised questions regarding AML practical issues encountered in daily operations, creating a lively atmosphere.
Representatives from precious metals industry institutions expressed this sentiment.
Representatives from banking institutions also stated.
Furthermore, the PBOC Chaozhou City Branch used this training session as an opportunity to conduct beneficiary owner information filing training for the participating precious metals industry institutions and banking institutions, further promoting the steady progress of beneficiary owner information filing work in Chaozhou.
According to relevant officials from the PBOC Chaozhou City Branch, the successful hosting of this training not only effectively enhanced the AML awareness and compliant operation levels of customers in the precious metals and gemstones industry but also further strengthened communication and cooperation between the PBOC, banking institutions, and precious metals industry institutions. This has laid a solid foundation for jointly guarding the AML defense line and maintaining the stability of financial order.
The next step will see the PBOC Chaozhou City Branch continue to increase AML publicity efforts, innovate publicity methods, expand publicity coverage, continuously raise public AML awareness, and strive to create a favorable atmosphere for nationwide anti-money laundering efforts.