We need to find a fairer way of providing Goods and Services to the rest of the people on Earth.Cryptocurrencies and/or Gold Standard of money....maybe the answer to fight hyperinflation caused by too much printing of paper/fiat currencies by Governments and Central Banks all over the World. (https://nomorefiatmoneyplease.blogspot.com)
Thursday, March 19, 2015
China tells banks to check for forex transactions above US$10,000: sources
China tells banks to check for forex transactions above US$10,000: sources
[BEIJING] China's foreign exchange regulator will increase monitoring of foreign currency transactions equal to US$10,000 or more, two industry sources said on Thursday.
The State Administration of Foreign Exchange (SAFE) has found that some banks have failed to correctly report foreign currency deposits or withdrawals equivalent to US$10,000 or more since November, the sources said.
SAFE has now ordered Chinese banks to more strictly check and report deposits and withdrawals of foreign currency, the sources said.
The document does not specify whether the US$10,000 limit applies to a single transaction or combined transactions within a day.
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