China - country focus
Posted in China Financial Crime

China – Country Focus

According a Chinese proverb, “the best time to plant a tree is twenty years ago, the next best time is now,” and so it goes with preventing and detecting Money Laundering and Terrorism Finance. China has not wasted time, but still has more to do. With significant proceeds of crime generated, in keeping with its status as the world’s second largest economy, a robust response is required. According to an IMF Report, together with APG, adopted by FATF and published in April 2019  “China has a strong understanding of the money laundering and terrorist financing risks it faces, but it should focus more on the laundering of proceeds of crime and increase the range of sources used for its national risk assessment.

Continue reading
Continue Reading...