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

International Monetary Fund

No 2018/191, IMF Staff Country Reports from International Monetary Fund

Abstract: 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.

Keywords: ISCR; CR; government; CFT supervision; CFT obligation; procuratorial authorities; asset disclosure regime; Shanghai PBC branch; sector supervisor; PBC HQ; law enforcement authority; Anti-money laundering and combating the financing of terrorism (AML/CFT); Corruption; Terrorism financing; Insurance companies (search for similar items in EconPapers)
Pages: 27
Date: 2018-06-26
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