People’s Republic of China : Report on the Observance of Standards and Codes-FATF Recommendations for Anti-Money Laundering and Combating the Financing of Terrorism

Author/Editor:

International Monetary Fund. Legal Dept.

Publication Date:

June 21, 2019

Electronic Access:

Download PDF. Use the free Adobe Acrobat Reader to view this PDF file

Summary:

• 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. • China’s decentralized financial intelligence unit (FIU) arrangement consisting of China Anti-Money Laundering Monitoring and Analysis Center (CAMLMAC), Anti-Money Laundering Bureau (AMLB), and 36 People’s Bank of China (PBC) provincial branches has high potential to produce financial intelligence that supports the operational needs of competent authorities, but its current functioning results in incomplete access by all parts of the FIU to all data, fragmented analysis and disseminations, and limits the development of a holistic view. Therefore, major improvements are needed.

Series:

Country Report No. 19/173

Subject:

English

Publication Date:

June 21, 2019

ISBN/ISSN:

9781498320733/1934-7685

Stock No:

1CHNEA2019002

Price:

$18.00 (Academic Rate:$18.00)

Format:

Paper

Pages:

15

Please address any questions about this title to publications@imf.org