National People’s Congress of the People’s Republic of China - Anti-Money Laundering Law

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The National People’s Congress of the People’s Republic of China Anti-Money Laundering Law provides for the prevention of money laundering and preservation of financial order in the country. The law establishes an administrative department in charge of anti-money laundering under the State Council to organize and coordinate the efforts of anti-money laundering throughout the country. The body is responsible for monitoring the anti-money laundering funds, formulate anti-money laundering rules for financial institutions, conduct supervision over and inspection of the financial institutions as to how they perform their obligation of anti-money laundering, and investigate into dubious transactions within the scope of its duties. The document is divided into several chapters, and covers the following topics:

1. Supervision over Anti-Money Laundering
2. The Obligation of Financial Institutions to Fight Against Money Laundering
3. Anti-Money Laundering Investigation
4. International Cooperation in Anti-Money Laundering
5. Legal Responsibility

Document Details

Document Type: 
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Year of Document: 
2007
Date of Document: 
Monday, January 1, 2007
Document Authors: 
National People’s Congress of the People’s Republic of China
Language (This Document): 
English

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