The People's Republic of China: Financial Sector Assessment Program; Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT)-Technical Note

June 26, 2018

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The People's Republic of China: Financial Sector Assessment Program; Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT)-Technical Note, (USA: International Monetary Fund, 2018) accessed September 19, 2024

Summary

This Technical Note discusses the findings and recommendations made in the Financial Sector Assessment Program for China in the areas of Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT). The Chinese authorities have taken significant measures to enhance the AML/CFT legislative and regulatory framework since the 2007 Mutual Evaluation Report and have continued after the completion of the 2012 Mutual Evaluation follow-up report to take additional steps to bring the AML/CFT regime in line with the revised Financial Action Task Force standard. Continuing to implement these initiatives will strengthen the AML/CFT regime going forward. The authorities should also prioritize the completion of the National Risk Assessment.

Subject: Anti-money laundering and combating the financing of terrorism (AML/CFT), Corruption, Crime, Financial institutions, Insurance companies, Terrorism financing

Keywords: Anti-money laundering and combating the financing of terrorism (AML/CFT), Asset disclosure regime, CFT obligation, CFT supervision, Corruption, CR, Government, Insurance companies, ISCR, Law enforcement authority, PBC HQ, Procuratorial authorities, Sector supervisor, Shanghai PBC branch, Terrorism financing

Publication Details

Pages:

27
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2018/191
Stock No:

1CHNEA2018002
ISBN:

9781484363799
ISSN:

1934-7685

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