The Study On Problems Of Anti-money Laundry Information Reports In China's Banking Industry

This paper demonstrates the necessity of reports of anti-money laundering information through the analysis of the unbalance of supervisors and information from banks in anti-money laundering. By analyzing the costs and profits of both the money launderers and banks this paper shows that the unbalance of costs and profits is the internal cause for the money launderers daring to take risks and banks inactive in anti-money laundering. Through the comparison and analysis of the anti-money laundering information reports by the international organizations of anti-money laundering and financial institutions in the banking industry in the United States, United Kingdom, Australia and other countries, it is thought that an anti-money laundering information report should include 6 aspects, that is, its pattern, content, financial information system, inner control, financial management, and encourage system. The experience gained from the advanced countries shows us that highly advanced computer systems, perfect rules and regulations, sound financial information institutions are the important conditions for solving the problem of the unbalance of anti-money laundering information, and that the expectation of costs and profits is the important factor in the making of information reports. Through the analysis of the present state of China's 2003 information reports on large and doubtful financial transactions, it is thought that the system played a significant role in practice. But the contents of these reports are not perfect enough, and the encouragement system has not established. We should perfect the management of such reports, set up encouragement system in anti-money laundering, further improve the inner control and management, and make perfect the rules and regulations for anti-money laundering.