BEIJING (Reuters) -China’s central bank said on Wednesday it will put non-bank payment institutions, internet micro-lenders and consumer finance companies under the scope of anti-money laundering and anti-terrorism financing supervision.
The move is in part a response to shortcomings pointed out in 2019 by the Financial Action Task Force, an intergovernmental body to combat money laundering, the People’s Bank of China said in a statement.
“In recent years… international anti-money laundering requirements have become stricter,” it added.
“The pressure on anti-money laundering supervision in various countries has increased.”
(Reporting by Gabriel Crossley and Cheng Leng; Editing by Andrew Heavens)