Research Of Application Of Block Chain Technology In The Field Of Anti Money Laundering

As a kind of crime,Money laundering has jeopardized the national political stability,social public security and economic stability seriously.According to the International Monetary Fund(IMF)statistics,the total amount of money laundering in the world is about 10-30 billion U.S.dollars per year and its amount accounts for about 4 billion of the world's total GDP.Facing the increasingly serious situation of money laundering,many countries have issued corresponding laws and regulations to increase the supervision and punishment of it.The international community has also established lots of organizations,e.g FATF,to strengthen international cooperation and fight against transnational crimes of money laundering jointly.According to the current situation,although the banking,securities,insurance and other financial industries have paid huge regulatory costs in anti-money laundering work and achieved certain results in anti-money laundering work,However,there are still problems such as,low efficiency of customer identification,low information level of anti-money laundering,high costs and non-sharing relevant data between different financial institutions.Based on the literature study on anti-money laundering and block chain technology,this paper analyzes the current situation of money laundering and the development of anti-money laundering,and points out in detail the existing problems in the field of anti-money laundering in financial institutions.At the same time,through the research and analysis of the characteristics of block chain technology and the related application scenarios in the financial field,the paper digs deeply into the application of block chain technology in the field of anti-money laundering to solve the current problems of anti-money laundering in financial institutions and enhance the feasibility of anti-money laundering effect of financial institutions.Finally,it is proposed to establish a block chain alliance between financial institutions and regulators,and to introduce block chain technology into the daily identity registration and verification,financial transactions and detection audit links of financial institutions,so as to solve the problems of low efficiency of customer identification,low informatization and anti-laundering existing in anti-money laundering work of financial institutions.The cost of money supervision is high,and the relevant data of financial institutions are not synchronized and not shared.