China to Bolster Fight Against Cross-Border Financial Crimes
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Source: BFW (Bloomberg First Word)
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(Bloomberg) -- China to improve its monitoring system for abnormal cross-border money flows, according to guidelines posted on State Council website.
- China seeking intelligence on cross-border money laundering and financing for terrorism, using information gleaned from monitoring foreign-exchange trading, cross-border yuan trading and anti-money laundering efforts
- China seeks to establish laws and “powerful” supervision system by 2020
- China will gradually set up anti-money laundering and anti-terrorism financing supervision systems for property agents, as well as precious metal, jewelry and jade sale sectors
- Link to statement: http://www.gov.cn/zhengce/content/2017-09/13/content_5224805.htm
Alert: HALISTER1
Source: BFW (Bloomberg First Word)
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UUID: 7947283