According to the examination results, most commercial banks have established internal control system of anti-money laundering and fulfilled obligations related to clients’ identity verification, transaction-record keeping and large-value and suspicious transaction reporting.
The PBC also punished 72 main reporting banks of commercial banks involving total fines up to RMB 1.7 million yuan due to their incomplete internal control systems of anti-money laundering or misreporting of suspicious transactions. The examination played active role in understanding commercial banks implementation of anti-money laundering regulations and enhanced commercial banks emphasis on anti-money laundering.