Anti-Money Laundering And Its Perfection In The Comparative Perspective

As one of the most impact crimes on financial markets, money laundering has brought considerable harm to the global financial order. The introduction of huge amounts of "black money", lead to confusion and distortion of the normal economic system; risks to financial institutions, serious damage to the reputation of the financial system; large capital outflows resulting in the reduction of the country’s foreign exchange reserves and tax.Faced with such a grim situation, governments around the world have taken an active anti-money laundering measures to counter. Improve the legislation at all levels to form the anti-money laundering legal system and build the anti-money laundering framework and combat the crime of money laundering with a number of departments in cooperation in the country. The formulation of the United Nations Convention against the crimes of money-laundering and the establishment of the Anti-Money Laundering Working Group provide convenient conditions for the linkage of anti-money laundering around the world in the international. However, we should have a clear understanding on the situation of the anti-money laundering. Money-laundering crime has penetrated into all walks of life of the national economy and harmed the lifeblood of the financial industry in the country, but the legislation of anti-money laundering is imperfect. So we should examine the possibility of the effective regulatory production of the existing laws and regulations to the crimes of money laundering, in view of the law is lagging behind to the complex and changing of the money laundering activities. We still lack experience of jointly combat the crime of money laundering with the international community and appear to be inadequate in the recovery of the loss of wealth caused by the crimes of money laundering. In fact, our legislation and the fight against money-laundering have a lot of gap compared with developed countries. This paper aims to research and comparative analysis of the legal system and the anti-money laundering framework structure and the anti-money laundering mechanisms of the more advanced countries and regions including the UK, U.S., Hong Kong and the relevant provisions of the international conventions on behalf of U.N. Convention Against Transnational Organized Crime and the regional conventions, to explore the useful complement in detail and to provide reasonable recommendations for the legislation and practice of anti-money laundering.This paper mainly divided into three parts:The basic theory of the money-laundering crime; The comparative analysis of the anti-money laundering around China and foreign countries; The perfection of the anti-money laundering of our country. The first part is the introduction of the basic theory of the crime of money laundering. The author analyze the crime of money laundering from the source and the definitions of the scholars and legal provisions and the elements of the crime of money laundering. The second part is about the perspective including the historical evolution of anti-money laundering, the legal system and framework of the UK, U.S., Hong Kong. Then have a brief comparative analysis of the status quo of our country’s anti-money laundering. In the third part, the author will provide reasonable recommendations to anti-money laundering from the anti-money laundering legislation system, the contents of the legislation, the working mechanism and the mechanisms of the international cooperation. These recommendations are on the basis of the reference of the requirements of International Convention and the experiences of other countries.