- How Chinese underground banks became the world’s biggest money-launderers
The success of Chinese money-laundering networks is due to a mixture of technical innovation, China’s trade surpluses and, most important of all, its strict capital controls, under which people
- Chinas Central Bank Flags Money Laundering and Fraud Concerns With . . .
China's central bank has flagged stablecoins as a specific concern in its latest push against virtual currencies, warning that the tokens fail to meet requirements for customer identification and anti-money-laundering controls and risk being used for fraud, money laundering, and unauthorized cross-border fund transfers
- Chinas central bank vows crackdown on virtual currency, flags . . .
The central bank specifically highlighted concerns about stablecoins, saying they fail to meet requirements for customer identification and anti-money-laundering controls
- China’s largest commercial bank resolves anti-money laundering and . . .
Consent orders issued by each agency will resolve years-long investigations into the bank’s alleged anti-money laundering compliance deficiencies and alleged mishandling of confidential supervisory information
- Chinas central bank vows crackdown on virtual currency, flags . . .
The central bank specifically highlighted concerns about stablecoins, saying they fail to meet requirements for customer identification and anti-money-laundering controls It warned that stablecoins risk being used for illegal activities including money laundering, fraud, and unauthorized cross-border fund transfers
- Central bank plans to list potential money launderers
In the update to its website, the Anti-Money Laundering Bureau of the People’s Bank of China added a column under its online “Risk Warnings and Financial Sanctions” section: a list, blank as of yesterday, of organisations and individuals deemed likely to engage in money laundering
- China new Anti-Money Laundering Law: Major Changes Impact
Starting from January 1, 2025, the revised Anti Money Laundering Law of the People’s Republic of China (“AML Law”) will officially come into effect, reflecting the evolving landscape of global finance, the rise in the use of digital assets, and increasing concerns about illicit use of financial systems and national security The changes aim to
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