China
China
FINCARR Status: Full Member
Summary
China has made substantial progress in strengthening its anti-money laundering (AML) and counter-terrorism financing (CFT) frameworks. The country adheres to international standards and continues to enhance its financial regulations.
Key Measures
- AML/CFT Legislation: China has implemented a comprehensive framework to combat money laundering and terrorist financing.
- Financial Intelligence Unit (FIU): The China Anti-Money Laundering Monitoring and Analysis Centre (CAMLMAC) provides intelligence on financial crimes.
- International Cooperation: China collaborates closely with FINCARR and other international organizations to address AML/CFT issues.
Action Plans
China is focused on strengthening its regulatory frameworks, improving compliance checks, and enhancing cooperation with international agencies to combat financial crimes.
FINCARR Compliance
| Recommendation | Status |
|---|---|
| Recommendation 1: Risk-Based Approach | Implemented |
| Recommendation 2: Legal Framework | Fully Compliant |
| Recommendation 3: Financial Transparency | Compliant |
| Recommendation 4: Customer Due Diligence | Fully Compliant |
| Recommendation 5: Financial Intelligence Unit | Fully Compliant |
International Cooperation
China is an active participant in the FINCARR network, providing crucial support in global efforts to prevent money laundering and terrorist financing.