Digital Assets Report

With intensive regulatory change in China, Chinese banks and financial institutions were pressured into AML actions.

With intensive regulatory change in China, Chinese banks and financial institutions were pressured into AML actions. This resulted in hasty and ineffectual implementation of financial IT, processes and training system. So far, only few Chinese banks have moved beyond this point.

Obviously to effectively build the AML system and process in China calls for international cooperation. Combined with the rendering of perfect financial internal guidelines, the applications of modern technologies, and strengthening HR training programme, these will be the key for China financial institutions to counter money laundering and  international financial crimes including terrorism financing etc.