Research On Anti-money Laundering Internal Audit In Internet Financial Industry

On October 31,2006,the National People's Congress reviewed and passed the"People's Republic of China Anti-Money Laundering Law"(hereinafter abbreviated as"Anti-Money Laundering Law").The national special legislation established the basic system of anti-money laundering work in China and clarified that financial institutions are anti-money laundering obligations in China.However,with the continuous strictness and perfection of the financial supervision system,money laundering is gradually infiltrating the Internet financial institutions.The characteristics of Internet finance,such as virtualization,high-tech,concealment,complexity,and cross-regional,also provide opportunities for lawless criminal activities.This paper studies A companies in the Internet finance industry as a case of the emerging financial industry.Faced with the occurrence of money laundering risks,the internal auditing department has taken anti-money laundering measures,and has made anti-money laundering procedures and work imperfect at the current stage of internal audit.Based on the existing problems,it proposes countermeasures against the anti-money laundering audits of Company A and China's Internet finance industry.Foreign literature on money laundering and anti-money laundering can be traced back to the 1980s.After the 1990s,the country began to conduct research on money laundering issues.Both domestic and foreign,the research focuses on the money laundering of banking,securities,and insurance industries,and rarely involves the emerging industry—the Internet finance industry.With the rapid development of the Internet finance industry and the occurrence of some large losses of illegal financing,some documents in recent years have mentioned the issue of money laundering in the Internet finance industry,but most of them are analyzed from the perspective of certified public accountants and have not The company's internal audit perspective analyzes the specific risks and the company's anti-money laundering strategy.The research question in this paper is the Internet finance industry,a new and special industry,how to better implement anti-money laundering internal audit.The innovations in this paper are:(1)Combating the internal auditing risk of Internet finance companies.In the past,there were few Internet finance companies involved:a combination of case and theory.Taking A internet finance enterprise as an example to study the internal auditing risk of anti-money laundering,it is more factual,more specific and more pertinent;(2)This article provides a new idea for anti-money laundering auditing through case analysis of company A.Intuitive and concrete methods help Internet finance companies,including Company A,who have similar money laundering problems,analyze the audit risk,and provide experience in the anti-money laundering audit business process.They also address the deficiencies in the internal audit process and propose improvements in anti-money laundering audits.The research in this paper is an experience for other internal auditing departments in the Internet finance industry and is well-developed for the entire Internet industry.This paper believes that China's Internet finance companies should gradually carry out anti-money laundering internal audit according to their own situation,formulate audit procedures and control measures suitable for their own according to their business characteristics,strengthen the application of money laundering risk management in internal audit,and better maintain the financial institutions' Reputation,maintaining the stability of the financial order.