The Measures regulate the actions against money laundering and terrorism financing by internet finance service agencies, from three perspectives. The first is clearly specifying the applicable scope of this regulation, the second is setting forth the basic obligations, and the third is establishing the regulatory duties. As to the second point, the Measures expressly state that efforts will be made to set up a sound internal control mechanism for anti-money laundering and counter-terrorism financing, effectively recognize identities of clients, submit reports on large-amount transactions and suspicious transactions, conduct the monitoring based on the lists of subjects suspected of engaging in terrorist activities, and retain clients' identity materials and transaction history. With regard to regulatory punishments, the Measures stipulate that, any internet finance service agency that violates these Measures will be ordered by the PBC and its local office and by the financial regulator of the State Council and its local branch, to take corrective actions within the designated time limit, and be given a punishment according to the law.