Anti-money Laundering Work Of Financial Institutions Research

Money Laundering refers to the behavior of legalizing the illegal income by the methods of trading or transferring,ect.to escape the regulation punishment.Money Laundering,as an illegal economic activity,utilizes the financial institutions to make capital flow and transferred,which indicates that the financial institutions can play a critical role in the process of anti-money laundering.On Jan.1^st,2007,our government implemented Law of the People's Republic of China on Anti-Money Launderings,and started the work of it in the whole country at the same time.The work of anti-money laundering started in the banks and then spread in other financial institutions such as brokerage-houses,insurance agents,and futures exchanges.With the development of the work,some problems,difficulties and defects of it become increasingly conspicuous.This thesis points out,the problems and defects of it in the new situation by analyzing the current work of financial institutions,the cost and benefit of it and the demonstration in our country,taking the anti- money laundering cases from Wenzhou City Branch,PBC,Wenzhou City Branch of Agricultural Bank,Wenzhou City Branch of Construction Bank as examples.It also makes attempt to strengthen the financial institutions' awareness of anti-money laundering and gives advice for them to establish the scientific and incentive management and the efficient system of compensation to reduce the high cost of the work and to increase the quality of the reports on suspicious dealings. Meanwhile it also makes a study of the work in developed countries such as American, German and Australia to draw on their previous successful experiences by comparing the differences.And at last it attempts to strengthen the financial institutions' awareness of anti-money laundering,to improve the financial ecology,to establish the system of compensation for the work in financial institutions and a scientific working system of anti-money laundering fitted to China reality,which join the forces of the Central Bank of China and financial institutions in this aspect.