A Study On Optimization Of Anti-money Laundering Internal Control Management Of Foreign Capital Commercial Bank M

With the rapid economic globalization and the rise of emerging economies,financial risks have been magnified to a certain extent.Smuggling,terrorist activities,drugs,underground banks and other crimes occur frequently in the world,making money laundering and terrorist financing a global public problem.The scale of money laundering crime is huge,which has seriously threatened the world financial order and the healthy development of economy.At the same time,in the past decade,China’s financial regulatory authorities have continuously promoted the opening up of the financial industry,and foreign capital commercial banks have become a unique group in China’s banking industry.The operation of foreign capital commercial banks in China should not only meet the requirements of Chinese regulatory authorities,but also comply with the requirements of home country regulatory authorities,which lead to a strong awareness of risk compliance,strict internal control management and better asset quality of foreign capital commercial banks.Foreign capital commercial banks have advantages in cross-border capital transactions and are more vulnerable to be taken advantage by money laundering criminals.Therefore,it is essential that studying the risk of money laundering and its internal control and management of foreign capital commercial banks in the new economic environment.Commercial banks are faced with the related risks caused by money laundering in their business activities.The internal control management of anti-money laundering should start from "risk-based",incorporate it into the comprehensive risk control system,integrate it with other risk control measures,and expand the anti-money laundering achievements while reducing the cost of anti-money laundering control.Based on the elements of internal control,this thesis analyzes the existing problems in the internal control management of M foreign capital commercial bank.Incomplete internal control system,insufficient effectiveness of internal control activities and no substantial effect of supervision and evaluation are included.This thesis summarizes that M foreign capital commercial bank should use risk-based approach to establish a sound internal control management system,provide management resources that are suitable for business scale,customer group and product characteristics,as well as use risk-based methods to improve the level of anti-money laundering internal control management from the following three aspects.Firstly,improve the internal control system of anti-money laundering,and constantly strengthen the professionalism and independence of the compliance team through training.Secondly,strengthen the internal control activities of anti-money laundering from the following aspects: improving the effectiveness of customer identification,improving the quality of suspicious transaction reports,and conducting regular risk assessment of business.Thirdly,improve data governance,strengthen muti-channel data fusion,optimize suspicious transaction monitoring model,and comprehensively strengthen anti-money laundering technical support.