Two departments issue the "Anti-Money Laundering Work Management Measures for Real Estate Practitioners"

According to the Zhitong financial APP, the Ministry of Housing and Urban-Rural Development and the People's Bank of China recently issued the "Anti-Money Laundering Management Measures for Real Estate Industry Institutions." Real estate industry institutions should promptly report suspicious transactions to the China Anti-Money Laundering Monitoring and Analysis Center if they detect or have reasonable grounds to suspect that customers are planning real estate transactions related to money laundering or other criminal activities. Real estate industry institutions should fully consider the money laundering risks they face, legally take preventive and monitoring measures, establish sound internal controls for anti-money laundering, and designate internal institutions or individuals responsible for anti-money laundering work.