People’s Republic of China: Detailed Assessment Report on Anti-Money Laundering and Combating the Financing of Terrorism

June 21, 2019

Preview Citation

Format: Chicago

People’s Republic of China: Detailed Assessment Report on Anti-Money Laundering and Combating the Financing of Terrorism, (USA: International Monetary Fund, 2019) accessed December 25, 2024

Summary

This report provides a summary of the anti-money laundering/combating the financing of terrorism (AML/CFT) measures in place in the People’s Republic of China (China)1 as at the date of the onsite visit (July 9–27, 2018). It analyzes the level of compliance with the Financial Action Task Force (FATF) 40 Recommendations and the level of effectiveness of China’s AML/CFT system and provides recommendations on how the system could be strengthened. China has undertaken a number of initiatives since 2002 that have contributed positively to its understanding of ML/TF risk, although some important gaps remain. Its framework for domestic AML/CFT cooperation and coordination is well established.

Subject: Anti-money laundering and combating the financing of terrorism (AML/CFT), Banking, Corruption, Crime, Economic sectors, Financial sector, Legal support in revenue administration, Revenue administration

Keywords: Anti-money laundering and combating the financing of terrorism (AML/CFT), Australia and New Zealand, Banking sector, Commercial bank, Corruption, CR, Criminal activity, Financial sector, Global, ISCR, Legal support in revenue administration, PBC branch, Predicate offense, Risk assessment, Tax crime, TF risk

Publication Details

Pages:

246
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2019/172
Stock No:

1CHNEA2019001
ISBN:

9781498320689
ISSN:

1934-7685

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