The nation's anti-corruption campaign and drive to track down economic fugitives and corrupt officials may help banks crack down on money laundering, analysts said.

Banks have been updating watchlists for suspected money-laundering activities and heightening scrutiny of transactions and accounts. But they may be challenged by new forms of money laundering as China further opens its financial markets, with trade financing, private banking and offshore company financing among the likely sectors.

Money laundering is difficult to detect because the activities can involve many parties and locations, and they are also highly structured and complex.