1. Which transactions require the client to present his ID certificate to the bank?
A: The bank needs to verify a client’s ID certificate when establishing the business relationship with the client or when the financial transaction reaches a certain prescribed level of amount, so as to ensure the authenticity of the client’s identity and legality of the transaction. The institution also needs to keep the client’s ID information as required. Therefore, when handling personal financial transactions, a client should present an authentic and valid ID certificate or any other document as proof of his ID, and provide his basic information by filling out the relevant form.

Where handling cash remittance, currency conversion, notes payment or acceptance, with single-sum amount exceeding RMB10,000 or USD1,000 equivalent of foreign currencies, the client needs to present the valid ID certificate or any other document as proof of his identity and have it photocopied. It is also necessary when the client is depositing or withdrawing cash worth RMB50,000 or USD10,000 equivalent of foreign currencies or above.

2. How may a client support the remitting bank in fulfilling the duty of ID authentication when remitting funds abroad?
A: Providing the name, account No. & domicile of the remitter and the name & domicile of the beneficiary at registration.

3. Will the bank continue to verify a client’s ID when the client’s business relationship with the bank is still effective?
A: Yes. The bank still needs to be informed of the client and the status of his daily operating activities and financial transactions, and remind him to update his personal data.

4. If the ID certificate or any other certifying document previously submitted by a client has expired during the period of a business relationship, what should be done?
A: Update the ID data timely. If the client fails to update it within the justifiable timeframe and without any justifiable reason, the bank should terminate the transaction for the client.

5. What should the bank report as questionable issues when verifying the identity of a client?
A: When the client refuses to provide his valid ID certificate, or refuse to update his basic data without any justifiable reason; or the bank, after the necessary steps have been taken, still suspect the authenticity, validity and integrity of the ID materials previously provided by the client.

6. Will the bank turn down a transaction of the client if this transaction partially tallies with the characteristics of money washing?
A: A transaction that meets the suspicious transaction reporting standard does not mean that the client intends to launder the money, so the bank should take different measures according to the specific situations. For example, the bank will surely refuse to open an account for anyone who does not have the ID card or uses feigned name. If the transactions are not up to the first class — e.g. your account has a high frequency of funding inflow or outflow, which is out of proportion with your identity or operational status, will not be refused by the bank, the bank will not refuse to handle them, but will report them up as suspicious cases.

7. What should one do if he/she has identified any clue of money laundering? How to report it? Is there any measure regarding confidentiality?
A: All public are welcome to report offense of money laundering and its upper-stream offenses. And every citizen has the right and duty to report such offenses. There are many reporting means available: The telephone: 010-88092000; Mail box: 32-124, #35 Financial Street, Xicheng District, Beijing 100032 (China Anti-Money Laundering Monitoring and Analysis Center); Fax: 010-88091999; E-mail: fiurepot@pbc.gov.cn; Website: www.camimac.gov.cn. All information reported and the names of reporters are kept strictly confidential.