FATF SAYS CHINA HAS SIGNIFICANT FAILINGS IN AML POLICIES
April 1st, 2019
THE FINANCIAL Action Task Force (FATF) has released a critical report on how China fights money laundering and terrorist financing, highlighting major weaknesses regarding integrating non-financial professions into the country’s AML/CFT work. The mutual evaluation report, which was coordinated by the International Monetary Fund (IMF), also highlights operational difficulties regarding its decentralised financial intelligence unit (FIU), and a lack of ML/TF understanding and information that could guide regulators and law enforcers.
The non-financial sectors ...
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