Efforts urged to improve money laundering law

Legislation to combat money laundering should be updated and improved quickly in view of increased cybercrimes, and to protect national security, judicial and financial experts said on Sunday.

Money laundering methods have become more diversified and professional, according to one expert.

This means that China's Anti-Money Laundering Law, passed by the country's top legislature 10 years ago, cannot solve some new problems effectively, said Yu Guangyuan, vice-president of the China Association for Fiscal and Tax Law.