BIS Review 24/1998  -2-  The Federal Reserve has undertaken its new risk-focused examination approach to respond to the dramatic changes that are occurring in the banking and financial services business, including tremendous advancement in technology and securitization, the breakdown of traditional product lines, the expansion of banks’ global operations in the world’s financial markets, and the development of new risk management systems.
Its cumulative number of suspicious activities reports in both RMB and foreign currencies posted 654,400, amounting to RMB248.023 billion yuan and USD76.92 billion and covering provinces, autonomous regions and municipalities across the nation. By means of identification, analysis, investigation on suspicious activities reports, increasingly more money laundering related cases were referred to departments of public security for further investigation.