The Study Of The Anti-money-laundering Mechanism In China's Insurance Industry

Money-laundering of insurance is a behavior that bases on commercial insurance,utilizing channels of insurance market and insurance intermediary market,by virtue of buying,claiming,alteration,cancellation of insurance or such ways to extenuate and conceal the sources or properties of illegal incomes and their benefits,in order to avoid suffering from native legal sanctions.Recently,the amount of money laundering in China's insurance industry is increasing,and the methods are getting more and more diversified and secluded,which severely impact national economic and financial order,undermines the social image of insurance companies.Consequently,it is getting to be an important subject to research on how to improve anti-money-laundering mechanism and effectiveness of China's insurance industry.The thesis mainly uses the methods of literature analysis,inductive and deductive research,comparative analysis to carry out research of anti-money-laundering mechanism in China's insurance industry.Firstly,the thesis begins with the concept of money-laundering,analyzing its features,means and detriments,illustrates the necessity for the government to strictly combat money-laundering.Secondly,the thesis discusses the development of China's anti-money-laundering law system,analyses the relevant national laws,the financial industry anti-money-laundering administrative regulations released by the People' Bank of China,and the insurance industry anti-money-laundering rules and regulations released by the China Insurance Regulatory Commission.And then,the thesis analyses the risk factors and main ways of insurance money-laundering to emphasize the particularity and importance of anti-money-laundering in insurance industry.Thirdly,the thesis deliberates the anti-money-laundering mechanism in China's insurance industry from three aspects: the supervision system,the regulatory conditions and the anti-money-laundering obligation of insurance institutions.Next,taking the internal control system of New China life insurance company as an example,the thesis emphatically investigates the establishments and implementations of China's insurance institutes' anti-money-laundering internal control regulations.Fourthly,combining her work experiences in the Fujian Branch of New China life insurance company,the author analyzes the anti-money-laundering internal control regulation system,the supervision conditions and insurance institutions' anti-money-laundering work in China's insurance industry,and discusses the major deficiencies of the mechanism.Lastly,the thesis puts forward five suggestions on improving the anti-money-laundering mechanism in China's insurance industry: first,keep improving the law and regulation system;second,strengthen supervision and inspection on anti-money-laundering work;third,improve the computer information system construction;fourth,reinforce the professional training;five,raise awareness in the whole insurance industry.