The Bank of China said on Monday it has decided to take anti-money laundering (AML) as its routine inspection work, aiming to tighten the bank's combat against money laundering criminals.
Spokesman for the Bank of China Wang Zhaowen said that the bank has circulated a notice on the decision to all of its branches across the country and urged them to keep close watch on any potential money laundering business and agents at home and abroad.
The bank asked all its branches not to offer financial service to those suspect money-laundering agents and relevant trading records must be saved when dealing with large-amount of clients.
The bank also plans to further improve its management mechanism on AML by establishing a dynamic AML information network shared by all of its branches.
In addition, each staff member of the Bank of China will participate in at least one training on AML each year in the future, and staffs in charge of AML twice a year, said the bank.
(Xinhua News Agency January 10, 2006)
