The Effects Of CNY Internationalization On Anti-money Laundering Supervision Of Banks

Trade liberalization and financial liberalization allow many resources such as capital, goods, human resources and knowledge can be achieved to maximize the flow on the global level at the current period of economic globalization. However, this relaxation of the economic environment gives the money-laundering criminals the chance to launder the illegal proceeds at the global scale, making them become legitimate property on the surface. The CNY internationalization is the objective demand and inevitable choice to build a new international monetary system and promote China’s national interests. It’s a long process that the CNY truly becomes an international currency, but the crime of money laundering for the CNY will not be delayed for this. As the important department of the CNY settlement of cross-border, the banking system will face more intense challenges in its anti-money laundering work.Based on the above background, this paper analyses cross-border money laundering through banking settlement services at the CNY internationalization, discusses what the anti-money laundering supervision is suffered by the banking system at the new situation, enriches the relevant theories and puts forward some useful recommendations. Under the big background of the CNY internationalization, the paper first analyzes the anti-money laundering supervision of banking industry at home and abroad and the current situation of the development of the CNY internationalization. And then it analyzes the incentives and the impossible process of the CNY cross-border money laundering from the perspective of the banking cross-border CNY settlement services, points out the dilemma of banking industry against money laundering at the CNY internationalization, and froms the perspective of effective contract, discusses the anti-money laundering supervision effect of the competent authorities to banks and banks to employees at the CNY internationalization. Finally, according to the effect of the CNY internationalization to the anti-money laundering supervision of banking industry around three aspects which are constructing the risk early warning mechanism of anti-money laundering, formulating the supervision punishment mechanism of anti-money laundering and making the bank’s internal anti-money laundering mechanism, the paper puts forward policy proposals, hoping to steadily promote the CNY internationalization process for our country and relevant departments and prevent money laundering crime from making use of the CNY internationalization.