Key practical points:
• Banks must verify your identity (KYC) at account opening and update your data periodically.
• Large or suspicious cash and transfer transactions are reported to the authorities.
• You may be asked to prove the source of funds on large or international transfers.
• Accounts may be temporarily frozen on suspicion pending checks.
• Transparency protects you; hiding information or structuring transactions can raise flags.
• The updated version broadened obligations to more sectors.
Anti-Money Laundering Law · Yalla China
中华人民共和国反洗钱法 / Anti-Money Laundering Law
Enacted: 2006-10-31 ✅ Effective: 2007-01-01
📝 Overview
A law requiring banks and financial institutions to verify customer identity and monitor suspicious transactions.
This is general information only, not legal advice. For your specific case, consult a licensed lawyer.
📜 The law text / key provisions
💬 Practical reading
💬 This is a general reading/opinion for orientation — not the official legal text nor legal advice.
To avoid having your account frozen, keep your finances clear: keep proof of the source of funds, especially for large or international transfers, and respond to the bank's queries quickly. Splitting amounts to dodge monitoring can cause bigger problems. General orientation, not legal advice.
📎 Official source
People's Bank of China / pbc.gov.cn
🕒 Updated: 16 March 2026