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China to Start Three-Year Crackdown on Money Laundering

The People’s Bank of China has investigated and punished money laundering cases with greater intensity in recent years.

The People’s Bank of China has investigated and punished money laundering cases with greater intensity in recent years.

Photographer: Yan Cong/Bloomberg
Bloomberg News

China will start a nationwide crackdown on money laundering from 2022 to 2024, after stepping up regulatory efforts in recent years. 

Eleven government agencies will carry out the campaign, which is aimed to “stop the spreading trend of money laundry and other related crimes,” the People’s Bank of China said in a statement Wednesday.