Study On American Anti-terrorist Financing Legislation And Its Reference

As the 911 terrorist attacks unfold,international organizations including the Financial Action Task Force on Money Laundering(FATF)and many other countries including China and the United States have started to explore the feasibility of tracking,identifying,investigating,and interdicting funds involved in terrorism.The Financial Action Task Force on Money Laundering(FATF)and other international organizations,including China and the United States,have begun to explore and study the tracing,identification,investigation and interdiction of funds involved in terrorism.Above all,the first chapter of this paper aims to clarify the essence of terrorist financing.Terrorist financing has risen to the level of a non-traditional security threat that goes beyond the political and military security of nations and endangers the security of all humanity.Terrorists abuse formal financial institutions,use informal funds and value transfer system,as well as non-profit organizations and other ways to conduct terrorist financing,which involves money laundering,drug trafficking,violent crimes and other illegal activities,as well as legal business activities with high concealed nature.These terror-related funds are used to support terrorist activities,strengthen terrorist organizations,and sustain terrorist organizations in the long term;in essence,terror financing is terrorism.In the next place,the second chapter of this paper focuses on three specific aspects of U.S.anti-terrorist financing legislative development.First,the U.S.anti-terrorist financing legislative system is divided into three parts: congressional legislation,presidential executive orders,and executive regulations.The Bank Secrecy Act and the Patriot Act are the most central laws.Second,the content of the U.S.anti-terrorist financing legislation revolves around the exante,expost and expost regulatory links,using anti-money laundering rules,improving the customer due diligence system,strengthening the supervision of the main body of suspicious transaction reports,and improving the financial intelligence management mechanism.Third,an empirical study of anti-terrorist financing in the United States.What’s more,the third chapter of this paper specifies the inspiration of U.S.anti-terrorist financing regulatory legislation to China from two aspects: legislative model and legislative content.First,the U.S.unified legislative model determines that the U.S.anti-terrorist financing-related legal norms are relatively concentrated in the higher authority of anti-money laundering legal documents,and it is very maneuverable.In contrast,China’s mixed legislative model has many problems.Second,the U.S.anti-terrorist financing legislation focuses on exante,expost and expost regulatory links to improve the rule of law,specifically covering a clear customer due diligence system,improve the supervision of the subject of suspicious transaction reports,and sound financial intelligence management mechanism.China is deficient in the above aspects.It is undeniable that the U.S.model of uniform legislation is also flawed,leaving legal loopholes for presidential abuse of power.For this reason,China also needs to pay attention to reflecting and criticizing the problems exposed by the United States.Finally,the fourth chapter of this paper,based on the analysis and argumentation in the third chapter,puts forward proposals to improve the legislative regulation of anti-terrorist financing in China.It mainly draws on the experience of the United States and reflects on the problems exposed in the United States from two aspects: legislative model and legislative content.First,abandon the mixed legislative model and adopt the unified legislative model,and incorporate the anti-terrorist financing legislation into the anti-money laundering legislative system.Second,improve the content of anti-terrorist financing legislation.By taking advantage of China’s existing anti-money laundering rules,we will position the prepost-and post-monitoring aspects of anti-terrorist financing,and clarify,improve and improve China’s customer due diligence system,suspicious transaction report subject supervision and financial intelligence management mechanism from the aspect of rule of law protection.At the same time,circumvent the problems revealed by the regulation of U.S.anti-terrorist financing legislation.