China tightens rules on oversea cash withdrawals

China tightens rules on oversea cash withdrawalsChina has tightened rules on how much cash cardholders can withdraw overseas in a bid to clamp down on money laundering, terrorist financing and tax evasion, authorities said Saturday. The new rules will “prevent law breakers from withdrawing a large amount of cash with different cards from different banks,” the State Administration of Foreign Exchange said according to state news agency Xinhua.



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