China Anti-money Laundering Probe

On January 3rd, 2003, the People's Bank of China promulgated three regulations regarding anti-money laundering, which had come into effect since March 1st, 2003. The promulgation of these regulations means the battle against money laundering officially begins in China. Since then, such words as "money laundering "and "anti-money laundering " become more and more familiar to the general public. The key questions regarding anti-money laundering include: what is the background of money laundering, why and how to tackle this problem, etc. The specific measures cannot be formulated unless the answer to the above questions is found. In this dissertation, the author makes a thorough analysis on these questions. The main findings include:The main purpose of anti-money laundering is to eliminate the harmful effect brought by money laundering crime;Facing money laundering crime, China has no other choice but to take firm measures to tackle it;To tackle money laundering crime, China may benefit from the experience and practice of other countries;We should have a detailed understanding about the current situation of anti-money laundering in China, so as to make practical suggestions.This dissertation consists four parts. The first part is an exordium, which introduces the definition, typical patterns and trend of money laundering. The general background of money laundering and anti- money laundering in the international society is also discussed in this part. The second part systematically classifies the various patterns of money laundering crime on the basis of case study. This part also analyses the correlation between money laundering crime and other kind of economic crime and gets the conclusion that the task to attack money laundering is quite pressing. The third part lists the defections and deficiencies exist in the legal system and operating mechanism in China's anti-money laundering activity. The forth part designs the policy suggestions to improve and perfect China's anti-money laundering system based on rational analysis.