The central bank: 50000 be submitted in cash transactions

    The central bank recently released by the financial institutions the big deals and suspicious transactions reporting management method "(hereinafter referred to as the" method "), since July 1, 2017. Compared with the existing rules, "method" will be a large cash renminbi reporting standards changed from "200000 yuan" to "50000 yuan", yuan-denominated large cross-border transactions reporting standards for the "200000 yuan", and for the first time into the scope of the main responsibility will be paid for non-bank institutions.

    "Method" regulation, the big deals reporting standards as follows: one is the natural person and not a natural person large cash transactions, domestic and cross-border reporting standards are based on more than 50000 yuan, the foreign currency equivalent amount more than $10000. Second is a large natural person bank account transfer transactions, domestic and cross-border reporting standards are based on more than 2 million yuan, the foreign currency equivalent amount more than $200000. 3 it is a large natural person bank account transfer transactions, report standard is RMB 500000 yuan of above, within the territory of foreign currency equivalent amount more than $100000, cross-border report standard is RMB 200000 yuan of above, the foreign currency equivalent amount more than $10000.

    For the cause of the adjustment, the relevant person in charge of the central bank said when a reporter asked, first, to strengthen the cash management is an important part of the anti-money laundering work. International anti-money laundering regulatory standards in the field of cash are more strict, such as the United States, Canada, and Australia's large cash transactions report starting point are all $10000 (or equivalent), and for regulators to crack down on illegal and criminal activities of specific areas, on the basis of legal authority can be further cut cash transactions reporting standards. Second, the popularity of non-cash payment instruments, development and innovation, facilitate the non-cash transactions, cash residents preferences is gradually changing, the normal demand by non-cash payment tool can get more fast, safe to meet, it provides a favorable condition for strengthening the management of cash. Finally, corruption and tax, international payments, and other fields in our country developments also calls for strengthening the cash management, guard against using large cash transactions engaged in corruption and tax evasion, avoid the risk of foreign exchange control and other illegal activities.