{"id":7258,"date":"2020-06-12T20:47:28","date_gmt":"2020-06-12T20:47:28","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=7258"},"modified":"2026-04-24T04:28:55","modified_gmt":"2026-04-24T07:28:55","slug":"bank-china-gambling","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/bank-china-gambling","title":{"rendered":"PBOC wants tougher cross-border gambling controls"},"content":{"rendered":"\n

The People’s Bank of China will go after payment services used to send money to betting platforms outside the country. <\/p>\n\n\n\n\n\n\n\n

China.- The People\u2019s Bank of China<\/em><\/strong> is set to crack down on payment services providers who facilitate Chinese use of foreign gaming platforms.<\/p>\n\n\n\n

China\u2019s central bank plans to make it more difficult for locals to transfer money out of the country for use on online casinos and apps.<\/p>\n\n\n\n

Fan Yifei, a deputy governor of the bank said at a recent meeting, according to Caixing Global: “Cutting off the financing channels used by the gambling sector is a crucial task in preventing and defusing major financial risks and is a national security issue,”<\/p>\n\n\n\n

He is said to have called for greater collaborative effort from various government departments in investigating cases involving “cross-border gambling funds”.<\/p>\n\n\n\n

It’s not the first move in this direction. In April, the Bank imposed a 116 million yuan fine on the Beijing-based payment company Allscore Payment Services for its involvement in facilitating gambling.<\/p>\n\n\n\n

The bank also issued a draft regulation on June 8 to determine that each channel for funds, including QR codes and bank card scanners, can only be used by one business and one account, and that payment companies will be obliged to check clients’ identities.<\/p>\n\n\n\n

China recently launched an online platform for illegal gambling whistleblowers<\/a><\/em><\/strong> to report infractions.<\/p>\n","protected":false},"excerpt":{"rendered":"

The People’s Bank of China will go after payment services used to send money to betting platforms outside the country.<\/p>\n","protected":false},"author":2,"featured_media":7259,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"The People's Bank of China is escalating its enforcement against payment service providers facilitating cross-border gambling, framing it as a critical financial risk and national security issue. This initiative involves stricter controls on fund transfers, significant penalties for non-compliant entities such as Allscore Payment Services, and new draft regulations mandating single-business channel usage and enhanced client identity verification. The crackdown aims to sever financing channels to offshore betting platforms, profoundly impacting payment facilitators and foreign iGaming operators targeting the Chinese market.","focusai_entities":"People's Bank of China, Fan Yifei, Allscore Payment Services, Caixing Global","focusai_location":"China, Beijing","focusai_target_profile":"ceo_executive (0.9), regulator (1.0), compliance_legal (1.0), operator_casino (0.9), payments_fraud_aml (1.0), investor_analyst (0.9), supplier_vendor (0.8), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Tech implications of new rules?","query":"What are the specific technological and integration challenges for payment gateways and iGaming platforms in implementing the new 'one channel per business and account' regulation?"},{"label":"Impact on offshore GGR?","query":"How will this intensified regulatory crackdown on payment channels materially impact the Gross Gaming Revenue (GGR) projections for offshore iGaming operators historically reliant on the Chinese market?"}],"footnotes":""},"categories":[16338,156],"tags":[20326],"class_list":["post-7258","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-east-asia-news","category-regulation-news","tag-illegal-gambling"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/7258","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=7258"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/7258\/revisions"}],"predecessor-version":[{"id":777007640,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/7258\/revisions\/777007640"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/7259"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=7258"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=7258"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=7258"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}