Lexsure Knowledge Hub
Makes available the latest paragraphs for you to consider including in your CQS CPMS Policy.
text for CQS CPMS Policy:
CQS Policy: Chinese underground banking and funds from China - Splitting (Update)
Change Date : 24/07/2025 | Word Count: 155 | Deployment Measure : 9/10
Rationale:
Updated paragraph in light of the content of the the UK’s National Risk Assessment of Money Laundering and Terrorist Financing 2025 noting that Chinese underground banking networks now place cash into the financial system in smaller amounts and through more account
Breaking up a transaction into smaller transactions at or below the $50,000 limit, usually through friends or family members, and then merging them into an account outside China is a
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