As reported by Reuters on 17 April 2013, according to accountants and bankers with knowledge of the matter, in December 2012 the People’s Bank of China issued new anti-money laundering rules to banks and insurers. The rules, which must be implemented by the banks and insurers by December 2015, have not been publicly released and require clients’ risk profiles and levels to be scored according to their geography, characteristics, business and industry. Banks and insurers are seeking advice from accountant firms on how to design their own risk assessment models to comply with the new rules.