China’s central bank plans to name money launderers to curb financial crimes

The People’s Bank of China has added a column to its website listing entities at high risk for money laundering in advance of an international review

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China is stepping up its efforts to control money laundering in advance of an international compliance review this year. Photo: Shutterstock

Published: 6:19pm, 7 Apr 2025

China’s central bank appears poised to list organisations and individuals at high risk of money laundering, as a new column detailing potential offenders has been added to the bank’s website as part of the country’s endeavours to clamp down on illicit finance.

The move comes as Beijing updates its compliance system in advance of a major international inspection this year.

While maintaining its high-pressure campaign to limit the exchange of cryptocurrencies such as bitcoin, it revised its Anti-Money Laundering Law last year and established a cross-ministerial task force to review the progress of a three-year action plan which began in 2022.

In the update to its website, the Anti-Money Laundering Bureau of the People’s Bank of China added a new column under its online “Risk Warnings and Financial Sanctions” section: a list, blank as of Monday, featuring organisations and individuals deemed likely to engage in money laundering.

Wu Changhai, a professor at China University of Political Science and Law, said the planned list is a preventive measure intended to enhance early warning capacity.

China is getting ready for its fifth-round mutual evaluation by the Financial Action Task Force (FATF), the global standard-setter for rules curbing money laundering and the financing of terrorism. It was accepted as a member in 2007.