China: anti‐money laundering in a foreign exchange area

Abstract

Focuses mainly on how China’s State Administration of Foreign Exchange (SAFE) monitors cross‐border capital flows and, since 2003, is mandated to combat transnational money laundering. Outlines other legislation since the 1990s which is aimed at preventing money laundering. Discusses the practical aspects of anti‐money laundering in China, and international cooperation in the form of training and technical assistance. Indicates the achievements of SAFE in uncovering important cases involving underground money houses and illegal foreign exchange transactions; 65 cases of violation of foreign exchange regulations have been dealt with by SAFE between March 2003 and September 2004, while many more cases have been transferred to the public security departments.

Citation

Dongrong, L. (2005), "China: anti‐money laundering in a foreign exchange area", Journal of Money Laundering Control, Vol. 8 No. 4, pp. 335-338. https://doi.org/10.1108/13685200510735301