Category Archives: Bank Account

What is happening in China’s Corporate Bank Account? In order to combat network criminal activities in China’s Corporate Bank Account such as telecommunications fraud and money laundering. Therefore, the People’s Bank of China has recently upgraded its supervision system.  On the whole, the China corporate bank account holder should pay attention to the verification call …

Continue reading “CHINA ENFORCE A STRICTER RULE ON THE AUDIT OF CORPORATE BANK ACCOUNT – PART 1”

Regarding to the stricter rule imposes on the corporate bank account in China. The corporate account holder or business owner have to pay attention to the bank verification calls and emails. As the bank will contact you by phone, email or on-site visits. Missing a phone call seems not a big deal. However, if you missed that …

Continue reading “NEW RULE ON CHINA CORPORATE BANK ACCOUNT – PART 2”

Recently many Chinese Clients holding a Hong Kong Limited were enquiring about their company bank accounts. Banks has been asking to fill out KNOW-YOUR-CUSTOMER (KYC) questionnaires or even informing them that their accounts will be frozen up or closed down within next few months. These Chinese Clients came panic and asking what do they need …

Continue reading “KNOW-YOUR-CUSTOMER QUESTIONNAIRE REQUEST BY YOUR COMPANY BANK ACCOUNT”

Why company bank account opening became so complicated? The International efforts in combating illegal activities including money laundering, terrorist financing and tax evasion have stepped up significantly. The act, coupled with various sanctions regimes. The regimes prompted banks to enhance their anti-money laundering and counter-terrorist financing (AML/CFT) controls in general. Including a more stringent customer …

Continue reading “Hong Kong Monetary Authority Hong Kong Bank Account Opening”