People’s Bank of China to Crack Down on Cross-Border Gambling Funds

The People’s Bank of China has announced that it was recently in talks with other Chinese government departments on combating the “cross-border” flow of gambling funds. Fang Yifei, deputy governor of the bank, called for enhanced official efforts on measures to tackle money laundering (AML).

The Bank ‘s latest meeting included members from the Ministry of Public Security, the General Customs Administration, the China Banking and Insurance Regulatory Commission, the Foreign Exchange State Government, the China Payment and Clearing Association, the China UnionPay Co Ltd Bank Card Service Provider, and the NetsUnion Clearing Corp.

The activity or promotion of online casino gambling or bricks and mortar type on the Chinese mainland is illegal, as is the marketing of such gambling outside the boundaries of the mainland, including any play in Macau.