Research On The Risk Control Of Commercial Banks’ Anti-Money Laundering Business

Commercial banks are the backbone of China’s economic and social development,and have always been in one of the main positions of anti-money laundering work in China.In recent years,financial institutions have received huge anti-money laundering fines with record amounts of penalties,and along with them,anti-money laundering laws with breakthrough and disruptive significance are being accelerated.All these phenomena reflect China’s determination to further improve risk management and control of anti-money laundering work,and highlight the increasing supervision and management of anti-money laundering work by the People’s Bank of China and other regulatory agencies at the same frequency.Based on the current situation background,commercial banks carry out proactive and comprehensive and strict risk control of AML business,which is necessary for the improvement of internal management level,optimization of risk management capability,maintenance of social reputation and credibility,business cooperation and expansion,and long-term sound operation of commercial banks,as well as the need to avoid huge penalties from regulators,fulfill AML obligations,and safeguard the fundamental interests of the Party and the people at the same time.This thesis uses literature research method combined with case study to analyze the antimoney laundering business process of B Bank in the order of "customer identification,monitoring of large and suspicious transactions,reproduction of transactions,and information sharing" from the content of the three core obligations of anti-money laundering,using internal control,comprehensive risk management and other research theories.We analyze,sort out and summarize the risk control situation of B Bank ’s AML business.Through a systematic study of five major aspects of AML risk control in B Bank: control environment,risk assessment,information system and internal communication mechanism,risk control measures,and supervision of risk control measures,the problems in the AML risk control process are finally proposed,the causes are analyzed,and improvement recommendations are formulated.In order to build an effective anti-money laundering business risk control system for commercial banks and to lay out a reasonable anti-money laundering business risk prevention and control structure,B Bank should take the problems of internal and external supervision and inspection as a guide,analyze in depth the shortcomings,difficulties and priorities of its own anti-money laundering business risk control and development,and make improvements in organizational structure and control system,staffing and professional quality training,business experience accumulation and transfer,assessment and necessary The company will deepen its analysis in the areas of organizational structure and control system,staffing and professional quality training,business experience accumulation and transfer,assessment and necessary incentive mechanism linkage,AML business risk points combing for each position,branch AML business management,system and process management and information system construction,internal and external inspection and AML compliance audit,with a view to building a set of AML business risk control environment,risk assessment protocols,risk control activities,information system construction and internal and external communication,compliance audit and supervision and inspection as the core.Anti-money laundering risk control system.It adheres to the principles of comprehensive,independent,matching and effective risk control of AML business,and grasps the working characteristics of combining bottom-up and risk-based,comprehensive coverage and focused depth,realtime feedback and self-replacement,independence and checks and balances,and seriousness and prudence,so as to provide strong support for B Bank to carry out AML work.The innovation of this thesis is to conduct an in-depth analysis of the risks in B Bank’s AML business process with the theory related to internal control in order to explore targeted risk control countermeasures.However,due to the late establishment,small volume and limited business scope of B Bank,the research results of its anti-money laundering work risk control can be effectively practiced to a certain extent and can improve its own anti-money laundering risk governance to a certain extent,but the effect is more limited when it is extended to other commercial banks in the same industry with long development time,larger business volume and larger anti-money laundering samples.In addition,because of the strong confidentiality of AML-related work,another shortcoming of this thesis is that it fails to describe some specific risk controls exhaustively and thoroughly.With the continuous promotion of anti-money laundering work in the whole society,commercial banks should always take the anchor of clarifying their responsibilities and missions in the future process of anti-money laundering work level development and development,and try to optimize the internal control system of anti-money laundering business comprehensively and systematically from multiple angles and channels to protect the prudent operation and sound development of commercial banks from the starting point of recognizing the shortcomings of their own anti-money laundering business.