Starting next year, cross-border remittances over 5000 yuan will require attention.
"Measures for the Administration of Customer Due Diligence and Customer Identity Information and Transaction Record Keeping by Financial Institutions" will be implemented on January 1, 2026.
Article 34:
Financial institutions and institutions engaged in foreign exchange business shall verify the accuracy of the remitter's information for customers remitting funds abroad in amounts exceeding 5,000 RMB or the equivalent of 1,000 USD per transaction.
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Starting next year, cross-border remittances over 5000 yuan will require attention.
"Measures for the Administration of Customer Due Diligence and Customer Identity Information and Transaction Record Keeping by Financial Institutions" will be implemented on January 1, 2026.
Article 34:
Financial institutions and institutions engaged in foreign exchange business shall verify the accuracy of the remitter's information for customers remitting funds abroad in amounts exceeding 5,000 RMB or the equivalent of 1,000 USD per transaction.