According to international standards, financial institutions should conduct customer due diligence when carrying out occasional transactions exceeding a certain threshold, such as $15,000. There was nothing new or unusual about hurdles faced by billionaire investor Mark Mobius in trying to move a bundle of cash out of China, the nation's top foreign exchange regulator said in response to his public complaint. Everyone has to comply with regulations governing large, cross-border transfers of cash, and the nation's capital control rules haven't changed, the State Administration of Foreign Exchange (SAFE) told Caixin.

https://www.caixinglobal.com/2023-03-07/china-pushes-back-on-mark-mobius-money-transfer-complaint-102005270.html

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