| Money laundering is a behavior of using financial institutions to legalize the illegal income. This method is adopted by criminals to avoid regulation punishment. Money laundering crime seriously threats the world politics and economic order, which has become a public enemy faced by countries all over the world. This paper briefly interprets the characteristics and harmfulness of laundering. International society insist on researching and creating the anti-money laundering measures for their financial system, in the same time, many countries have established laws to counter the crime of money laundering.In China, the crime of money laundering is becoming more rampant with the development of economic globalization, the criminals change the way of money laundering continuously. Then,anti-money laundering is an urgent task to do in China. Though our country has established some financial laws to counter the money laundering, and founded special institution for anti-money laundering, it still need long-term consummation. Therefore, researching how to build up and consummate the anti-money laundering system especially for the financial institution has important and realistic meaning in stabilizing the society and ensuring the economic development. This article give the theoretical discussion about how to consummate the anti-money laundering system of our country with the economic vision, which trying to by studying the behavior patterns and analyzing the cost and benefit of the actors, and borrowing some successful experience from the abroad.This paper has five chapters. The second chapter is the outline of the money laundering and anti-money laundering. First, it introduces in detail the money laundering historical background and delimits of it, to enable us to have a quite direct-viewing understanding to the money laundering through the historical origin and the development. Secondly, it points out the harm of money laundering to our society and economy. This criminal activity not only influences the government prestige enormously, but also seriously threatens the society stability and impacts national economy and finance order, harasses the normal market economy order, and twisted the social resources distribution, further more harms the social justice and encourages the corruption. Finally it introduces the common process and means of the money laundering. The Financial Action Task Force on Money Laundering classifies the process of laundering money approximately into three basic steps and stages. Financial institutions especially commercial bank play a critical role in this process; therefore, these mechanisms are the key segments to stop this behavior.In chapter 3,this article analyses the present condition of our financial circles in our country ,which lists the defections and deficiencies exist in the legal system and operating mechanism in China's anti-money laundering activity. The China 2003 "Rules of Anti-money Laundering by Financial Institutions" breaks important new ground. However, there are lots of obstacle in Chinese current Financial Mechanism of Anti-money Laundering, such as Not extensive proceeding publicity, being absent of overall planning legal system ,being lack of The suspicious bargain pays of the standard misty.The forth chapter is the key point of this paper, which analyzes the anti-money laundering work with economic theory. Combine the conditions of our country to money launderer, financial institution and regulator two economic subjects who are involved in anti-money laundering, we have the cost-benefit analysis at first and believe that they have individual cost and benefit. The main problem at present is that the high cost in anti-money laundering that financial institutions afford decrease their initiative. What's more, to be a kind of quasi-public good, the action of anti-money laundering need the government guiding the private department to provide. Then according to the characteristics of anti-money laundering work and the cost-benefit analysis before, we give out a model basing on the game theory. The action of financial institution and the regulator influence their possible cost and benefit each other. The game proceeded between the regulator and financial institutions is a dynamic game of incomplete information. The level of the hard work of the financial institutions in anti-money laundering and the probability with which the regulator checks the institutions converge to a balance state. The regulator must punish severely to the violation of anti-money laundering rules to guarantee the financial institutions performance anti-money laundering rules earnestly.In chapter 5,Combining economics theory analysis and present condition analysis in the two parts formerly, this article proposes, it must strengthen the work of the following aspects to consummate the counter money laundering system of the financial circles: Firstly, it suggests that the regulator should inspire financial institutions to try their best for anti- money laundering. Secondly, it discusses that we should construct the internal control system of the main body of anti- money laundering. The advanced anti- money laundering experiences in US and UK reflect that the perfect internal control system is the safeguard of the effective work. We should fully profit from such advanced experiences. Thirdly, it suggests establishing the coordinated mechanism of anti- money laundering in China. The successful anti- money laundering experiences in domestic and foreign indicate that, this work requires close coordination and participation of the administration departments, judicial departments and financial institutions; it also needs the support from the entire world. |
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