Chinese banks are tightening control over legal entities in response to global sanctions. This new measure focuses on enhanced client checks, particularly for companies whose registered addresses match those of sanctioned organizations.
Key aspects of the new regulations:
- Major banks, such as Chouzhou Commercial Bank and Bank of China, are forming “blacklists” of addresses.
- Restrictions apply even to companies not directly linked to sanctions but sharing similar registered addresses.
- Banks are strengthening compliance mechanisms to avoid violations of international sanctions.
- This creates risks for international companies cooperating with Chinese banks.
For businesses, this means the need for careful monitoring of their data, legal addresses, and partners. Regular screening for sanction risks and compliance with requirements becomes critically important.
If you operate in international markets and collaborate with Chinese banks, our company is ready to assist with legal support, risk monitoring, and the implementation of effective compliance solutions.
Contact us to learn more about how to protect your business in the current environment.