China's progress in strengthening measures to tackle money laundering and terrorist financing

6 October 2021 - Since the 2019 assessment of China’s measures to tackle money laundering and terrorist financing, the country has taken a number of Follow-Up-Report-China-2021to strengthen its framework.

China has been in an enhanced follow-up process following the adoption of its Mutual Evaluation Report of China - 2019

3 – Money laundering offence, from partially compliant to largely compliant

8 – Non-profit organisations, from partially compliant to largely compliant

16 – Wire transfers, from partially compliant to largely compliant

18 – Internal controls and foreign branches and subsidiaries, from partially compliant to compliant

29 – Financial intelligence units, from partially compliant to largely compliant

38 – Mutual legal assistance: freezing and confiscation, from partially compliant to compliant

Today, China is compliant on 9 of the 40 Recommendations and largely compliant on 22 of them. It remains partially compliant on 3 Recommendations and non-compliant on 6 Recommendations.

China will remain in enhanced follow-up and will report back to the FATF on progress achieved on improving the implementation of its AML/CFT measures

Follow-Up Report China - 2020

Mutual Evaluation Report of China - 2019