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

International Monetary Fund

No 2019/172, IMF Staff Country Reports from International Monetary Fund

Abstract: 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.

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 (search for similar items in EconPapers)
Pages: 246
Date: 2019-06-21
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