CHINA : IMF FINANCIAL SECTOR ASSESSMENT PROGRAM; AML/CFT TECHNICAL NOTE

On 26th June, the IMF published a Technical Note, available to buy at $18 and the text is available for free online.  It says that it summarises the findings of a targeted review of China’s progress in addressing vulnerabilities with respect to the anti-corruption framework as it relates to money laundering and the supervision of financial institutions, with a focus on the banking sector.  In addition, it also provides a factual update on the key measures taken by the authorities since China’s previous assessment against the FATF standard during 2006–2007.  This is not, in any way, an evaluation or assessment of China’s AML/CFT system.  China is scheduled to undergo an assessment against the prevailing FATF standard during 2018–2019.

http://www.imf.org/en/Publications/CR/Issues/2018/06/26/The-People-s-Republic-of-China-Financial-Sector-Assessment-Program-Anti-Money-Laundering-and-46023

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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