China’s Banking and Insurance Regulatory Commission has issued new guidelines on supply chain finance which aim to crack down on supply chain fraud, according to a report in the official news outlet China Daily.

The regulator stressed that banks in China should ensure that they acquire first-hand, original transaction data from the borrower and its partner that helps enhance its credit, said the report. Banks should also adhere to comprehensive risk surveillance by monitoring risks associated with not only the lead company in a supply chain but also companies in the upstream and downstream of the supply chain, according to the CBIRC.