Study Of Anti-money Laundering Mechanisms Of The Financial Sector In China

With the development of the global economic integration, money laundering through financial organizations becomes rampant. It is a problem of global concern to construct and improve the Financial Mechanism of Anti-money Laundering. The Financial Mechanism of Anti-money Laundering has great significance in safeguarding the healthy financial system, ensuring the growth of economy and increasing the welfare of the whole society. The developed countries grant great importance to The Financial Mechanism of Anti-money Laundering. Although their institutional co-ordination and financial transaction reporting system are differ, they make a best choice of Anti-money Laundering mechanism because they take account on their domestic financial markets and financial supervision mode. To some extent,they are good examples and make good advices to China.The China 2003 "Rules of Anti-money Laundering By Financial Institutions" breaks important new ground. However, there are lots of obstacle in Chinese current Financial Mechanism of Anti-money Laundering, which decreases the effectiveness of China's efforts. To accomplish our own mechanism, we should not only put the successful experience of foreign countries into China's practice, but also set forth a comprehensive plan to develop Chinese Financial Mechanism of Anti-money Laundering. In this thesis, the author expatiates on hisproposal that it should include an effective regulatory regime and law framework, the excellent financial supervision,the co-ordination between public and private sector, local and international institutions. In the last partjthe author examines China financial transaction reporting system. China's current reporting of Large-Value and Suspicious Transaction has some serious limitations. In order to improve it, we should enlarge the scope of the reporting party step by step,focuse on the specialized analysis,and make the best use of the advanced technology.