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People’s Republic of China: Detailed Assessment Report on Anti-Money Laundering and Combating the Financing of Terrorism
Author:
International Monetary Fund. Legal Dept.
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Series:
IMF Staff Country Reports
Volume/Issue:
Volume 2019: Issue 172
Language:
English
Publication Date:
21 Jun 2019
DOI:
https://doi.org/10.5089/9781498320689.002
ISBN:
9781498320689
ISSN:
1934-7685
Pages:
246
Keywords:
ISCR; CR; TF risk; risk assessment; banking sector; commercial bank; criminal activity; tax crime; predicate offense; PBC branch; Anti-money laundering and combating the financing of terrorism (AML/CFT); Legal support in revenue administration; Financial sector; Corruption; Global; Australia and New Zealand
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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.
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Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund
Volume 2019: Issue 172