On 5 April, in a statement published on its official website, China Banking Regulatory Committee made 21 specific demands, requesting the lenders to tighten risk controls in their overseas branches.

In March, ANBOUND has already pointed out that the Chinese banks as a whole has little awareness on anti-money laundering and their ability to counter money laundering is too weak and they are far lagging behind their peers in term of the anti-money laundering system.

Issued hurriedly by China Banking Regulatory Committee, the statement shows that the decision makers in China are highly concerned on the risk controls in the overseas branches of Chinese banks.

Chinese banks are under increased pressure to ensure the full compliance of operational and regulatory requirements set by the international markets, in order to prevent the systemic risk of non-compliance of regulations, Chinese banks should take serious measures and adapt to the new financial regulatory system and market environment.