中国将加强监管国外银行卡交易
China's foreign exchange regulator said Friday it will start collecting information on the use of domestically-issued bank cards for overseas cash withdrawals and consumption to fight money laundering.
中国外汇外汇监管部门周五表示，将开始收集国内发行的银行卡在国外的取现以及消费信息以打击洗钱。
From Sept. 1, banks are required to report all cash withdrawals, as well as deals worth above 1,000 yuan (146.7 U.S. dollars) made at brick-and-mortar and online stores, overseas via domestic cards, according to the State Administration of Foreign Exchange (SAFE).
The move is intended to improve transparency and data quality of overseas bank card transactions to meet the demands of international cooperation against money laundering, terror financing and tax base erosions, the SAFE said.
The new rule does not concern any adjustment of forex management policies related to bank cards' overseas use, the SAFE noted, saying it will continue to support legal and convenient use of domestic cards overseas under the current account.
Transactions made through non-bank payment institutions do not need to be reported, according to a SAFE circular.
It said the SAFE will ensure the security of the card owners' information, which will be collected every day through an online management system that will go into use on Sept. 1.