Personal deposits and withdrawals of more than 50,000 yuan in cash need to be registered. What is the signal?

　　Zhongxin Finance, February 9 (Reporter Li Jinlei) Starting from March, new regulations for cash deposits and withdrawals will be ushered in.

　　From March 1, 2022, the "Administrative Measures for Customer Due Diligence of Financial Institutions and Preservation of Customer Identity Information and Transaction Records" issued by the central bank and other three departments will be officially implemented.

　　The measures stipulate that

　　Subsequently, "personal deposit and withdrawal of cash exceeding 50,000 yuan needs to register the source of funds" was posted on Weibo's hot search, attracting attention.

RMB data map.

Photo by Zhang Yun

Why introduce such an approach?

　　In a word, it is for anti-money laundering.

　　When answering questions from reporters, the person in charge of the relevant department pointed out that in recent years, with the changes in financial products and business models, some new challenges have arisen in the anti-money laundering work in the financial industry

　　Zhongxin Finance reporter noticed that on the same day the "Measures" were promulgated, 11 departments including the People's Bank of China and the Ministry of Public Security announced that they

, resolutely curb the spread of money laundering and related crimes.

　　Previously, the central bank has piloted large-amount cash management in Hebei Province from July 1, 2020 and in Zhejiang Province and Shenzhen City from October 1.

Individual deposits and withdrawals of more than 100,000 yuan in Hebei, more than 200,000 yuan in Shenzhen, and 300,000 yuan in Zhejiang must be registered.

The pilot period is 2 years.

　　There is no doubt that anti-money laundering efforts are escalating.

　　Dong Ximiao, chief researcher of China Merchants Union Finance, told Zhongxin Finance that cash has the characteristics of anonymity and untraceability, and large amounts of cash are often used for money laundering, tax evasion and other illegal activities, endangering the country's economic and financial order.

Especially in today's environment where non-cash payment methods are very convenient, the proportion of cash usage continues to decline, and the use of large amounts of cash by ordinary savers is relatively rare.

　　Dong Ximiao said, therefore, the three departments have issued new regulations to further supplement and improve the relevant requirements of customer due diligence with reference to international standards, which will help to improve the anti-money laundering supervision system, crack down on illegal use of cash, improve the level of anti-money laundering work, and reduce money laundering, etc. criminal acts, maintaining financial security.

Data map: Bank money counters are at work.

Photo by Ai Qinglong

　　In this way, will it bring inconvenience to ordinary depositors to deposit and withdraw?

　　Dong Ximiao believes that the

First of all, there are really not many cases of personal deposits and withdrawals of 50,000 yuan in cash. Diversified non-cash payment methods such as mobile payment and the digital renminbi in the pilot program can already be used. To meet people's daily needs, it is not necessary to use cash.

Secondly, even if you need to deposit and withdraw more than 50,000 yuan in cash, you just need to fill out an additional large-amount cash business form, and you need to check the purpose of withdrawal and the source of deposit. The impact is small.

　　"Be open and aboveboard, act upright and walk straight without fear of regulations, as long as you fill in the form clearly." "If you don't do anything wrong, there is nothing to worry about, and you understand the good intentions of the bank." "Prevent criminals from laundering money and support this decision. "Many netizens also expressed support for the new regulations.

　　In addition, there is a news about cash deposit and withdrawal that has attracted attention, and two private banks announced that they will suspend cash business.

　　Among them, Liaoning Zhenxing Bank issued an announcement on the suspension of counter and ATM cash business. With the approval of the competent People's Bank of China, from March 1, 2022, counter cash deposits and withdrawals, change exchanges, damaged currency exchanges, and ATM deposits and withdrawals will be suspended. and other cash business.

Beijing Zhongguancun Bank issued an announcement on the suspension of cash collection and payment business. After reporting to the relevant regulatory authorities, it will suspend the cash collection and payment business from April 1, 2022.

　　Zhongxin Finance noticed that Beijing Zhongguancun Bank and Liaoning Zhenxing Bank are both private banks, both established in 2017.

The two banks mentioned one reason for the suspension of cash business: continuously increasing the development of online business and concentrating resources to improve the service capabilities of e-banking.

　　In Dong Ximiao's view, there are currently 19 private banks in my country. Private banks are "one line at a time" and have fewer offline outlets. The proportion of cash business is small, but the investment cost of cash business is relatively high. These banks stop cash business and basically It does not affect the service to customers, and more importantly, it can reduce operating costs.

　　"

" Dong Ximiao said.

(Finish)