The People’s Bank of China has said that it was recently in discussions with other Chinese government departments on fighting the “cross-border” flow of gambling funds. Fang Yifei, deputy governor of the bank, called for improved official efforts on moves to combat money laundering.

The Bank’s most recent meeting comprised members from the Ministry of Public Security, the China Banking and Insurance Regulatory Commission, the General Customs Administration, the China Payment and Clearing Association, the NetsUnion Clearing Corp, and the China UnionPay Co Ltd Bank Card Service Provider.

The activity or promotion of online casino gambling or bricks and mortar type on mainland China is illegal, as is the marketing of such gambling outside the boundaries of the country, including any gaming in Macau.

Source: https://europeangaming.eu/portal/latest-news/2020/06/15/72349/peoples-bank-of-china-to-crack-down-on-cross-border-gambling-funds/

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