USEUROPEAFRICAASIA 中文双语Français
Home / Business

Experts call for greater awareness of anti-money laundering laws

By Jiang Xueqing | China Daily | Updated: 2016-02-23 08:52

Academics and lawyers said Chinese financial institutions that expand globally must know very well the anti-money laundering laws, regulations and common practice of the countries they are in and improve their AML internal control system accordingly.

Wu Qing, deputy director of banking research at the Development Research Center of the State Council, said China attaches great importance to anti-money laundering but its laws and regulations in this field are different from those in other countries, thus requiring the overseas branches of commercial banks to be familiar with the rules of their host countries.

A Hong Kong-based lawyer, who declined to be named, said anti-money laundering is extremely complicated that even banks from the United States and Europe often face such problems.

Experts call for greater awareness of anti-money laundering laws

Today's Top News

Editor's picks

Most Viewed

Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US