On 31 October 2006, the PRC Anti-Money Laundering Law (the Law) was
promulgated. It is likely that the timing was not accidental, because a joint meeting of relevant experts will be held in Shanghai in November by the G-7’s Financial Action Task Force on Money Laundering (FATF) and Eurasian Group on Combating Money Laundering and Financing of Terrorism. The Law is relatively short (37 articles), will become effective on 1 January 2007, and is designed to serve as a framework to coordinate the Chinese government’s money laundering efforts, in which at least 20 government authorities are involved. Its promulgation was necessary for China to fulfill its obligations under the UN Convention on Corruption and other conventions, as well as to become a member of FATF. As is usual with major PRC legislation, foreign expertise was provided by both foreign governments and multilateral institutions. The Law is also applicable
to controls on the provision of financing of terrorism, unless other legislation stipulates otherwise...无忧论文 【http://www.uklunwen.com】 |
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