PANews reported on November 29th that, according to Cailian Press, three departments (the People's Bank of China, the State Financial Regulatory Commission, and the China Securities Regulatory Commission) jointly released the "Administrative Measures for Due Diligence of Financial Institutions and the Preservation of Customer Identity Information and Transaction Records" yesterday. Among the new measures, the requirement that "individuals depositing or withdrawing cash exceeding 50,000 yuan must register the source of funds" has been removed, consistent with the previous draft for public comment. Under the new regulations, banks will no longer indiscriminately question everyone when withdrawing cash, but will decide whether to ask more questions based on the risk level: in cases of high money laundering risk, banks will strengthen their investigation to understand the source and purpose of funds; for low-risk situations, simplified measures will be adopted.