International Monetary Fund. Monetary and Capital Markets Department
INTERNATIONAL MONETARY FUND
This Technical Note discusses the findings and recommendations made in the Financial Sector Assessment Program for China in the Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) areas. The Chinese authorities have taken significant measures to enhance the AML/CFT legislative and regulatory framework since the 2007 Mutual Evaluation Report and have continued after the completion of the 2012 Mutual Evaluation follow-up report to take additional steps to bring the AML/CFT regime in line with the revised Financial Action Task Force standard. Continuing to implement these initiatives will strengthen the AML/CFT regime going forward. The authorities should also prioritize the completion of the National Risk Assessment.