Research And Implementation Of A Jiangxi Province Rural Credit Cooperative Anti Money Laundering System

With the development of economic globalization, and due to the changingtechnology, criminal activities related financial problems also become increasinglycomplex, as well as the globalization of financial services. Money laundering crimeposes serious loss and influence to the countries all over the world. Tracing the reasonto the source, and seeing from the large number of anti-money laundering practiceexperience accumulated from home and abroad, we could know that money launderersare apt to take activities in those countries and regions in which financial and legalsystems are not sound, and they also tend to choose the way of low cost, high security,less risk and strong convenience, such as in our country at present. The financialinstitutions especially like commercial banks have become the main channel to moneylaundering.The anti-money laundering system of financial institutions is to unite otherregulators to crack down money laundering crime of financial crime activities, thus, tomaintain public interests, safeguard the financial security, collect and analyze thecustomer attributes, trading behavior, risk characteristics and other related information,to combine with the regulators’ regulatory requirements to financial institutions, toconstruct the anti-money laundering market of financial institutions on the basis of theavailable data platform construction.Based on the data platform, this paper analyses the requirement of anti-moneylaundering market of financial institution, designs the system and makesimplementation of it. It explains how to establish complete anti-money launderingprocessing procedure, how to satisfy the report compliance of anti-money laundering,how to build large suspicious quantitative rules model, and how to build customeranti-money laundering risk rating system.In view of the above questions, the paper describes the requirement analysis andstructure design of the system in detail, mainly to solve the following several aspects:1. Through the establishment of a complete anti-money laundering processing procedure, to realize monitoring, early warning, investigation, tracking and reportingprocess of large amount transactions of RMB and foreign currency, of suspicioustransactions, and to improve and perfect internal anti-money laundering mechanismsystem of financial institutions.2. The related legal laws and regulations of anti-money laundering have clearlydefined the duties and obligations for financial institutions to anti-money laundering. Byenforcing report compliance of anti-money laundering, they completely meet all kindsof regulatory requirements of regulators to financial institutions anti-money launderingwork.3In the process of anti-money laundering monitoring, how to quantize largeamount transaction, especially suspicious transaction, is an important and complexproblem. However, the use of quantitative methodology of money laundering riskmonitoring model could establish an effective large suspicious monitoring rules.4. According to related requirement for customer risk rank division and reportingof regulators, such as the People’s Bank of China, banking regulatory commission(CBRC), we should establish customer risk identification and rating system in fullyconsideration of regional, business, industry, customer whether foreign factors to trulyreflect the customer characteristics and account properties. Thus, we could eventuallysubmit financial institutions customer risk evaluation system and related standards, aswell as the higher risk rank customer, account basic information to the regulators, suchas the People’s Bank of China banking regulatory commission (CBRC).