Home>News Center>China
       
 

Nation joins in fighting money laundering
By Xu Binglan (China Daily)
Updated: 2004-12-25 10:50

China plans to work closer with other countries as it ups the ante in the fight against money laundering and terrorism funding.

The country, a founding member of the Euro-Asian Group on Combating Money-Laundry and Financing of Terrorism (EAG), is playing a very active role promoting co-operation among EAG members, said Ling Tao, director of the Bank of China's bureau in charge of countering money laundering.

The EAG, established in October 2004, also includes Russia, Ukraine, Belarus, Kyrghizstan and Tajikistan.

Ling said the country is applying for membership at the Financial Action Task Force on Money Laundering, a major intergovernmental organization launched in 1989 by the Group-7 Summit.

"We always have an open, pragmatic attitude in multilateral and bilateral co-operation in the fight against money laundering," he said.

On the home front, Ling said China puts priority on improving its legal system as well as monitoring, analysis and law enforcement systems.

Resources will also go towards building a professional team to fight laundering, which is always linked to other crimes, he said.

In China, it is mostly related to smuggling, drug trafficking and terrorism.

Some estimates peg the amount of money laundered in the country at US$20 billion every year.

However, legal experts said the country's definition of money laundering is too narrow to deal with increasingly sophisticated operations. To address this problem, the nation's law-making body, the National People's Congress, set up a team to draft a new law in March 2004.

Ling, whose bureau co-ordinates anti-money laundering efforts at the central government, said 23 related government departments have been mobilized to play a part in the fight.

The next step will be to enhance inter-provincial co-operation, he said.

Banking, securities, real estate and insurance have been marked as sensitive sectors. Law firms, accounting firms and jewellery companies are also in the list of places that need to be scrutinized, he said.

The People's Bank of China in 2003 issued regulations on reporting of suspicious transactions by financial institutions. The regulations mainly affect banks.

According to Ling, authorities are paying close attention to key cities such as Shanghai and Shenzhen and major areas like Southwest China's Yunnan Province and Northwest China's Xinjiang Uygur Autonomous Region.



 
  Today's Top News     Top China News
 

A time for giving, a time for sharing

 

   
 

Cities raise water price

 

   
 

Explosion rips Baghdad as Rumsfeld leaves

 

   
 

Nation joins groups against money laundering

 

   
 

Premier calls for greater UN role in Iraq

 

   
 

Home-made films play a bigger role

 

   
  Non-stop train makes urgent halt for pregnant woman
   
  Bells ring for Santa in China
   
  Cities raise water price
   
  Nation joins in fighting money laundering
   
  Minister: Exports mix to be adjusted
   
  Christmas in China brings foreigners at home
   
 
  Go to Another Section  
 
 
  Story Tools  
   
  News Talk  
  It is time to prepare for Beijing - 2008  
Advertisement
         
主站蜘蛛池模板: 无翼乌全彩绅士知可子无遮挡| 色噜噜狠狠一区二区| 老阿姨哔哩哔哩b站肉片茄子芒果| 女人18毛片特级一级免费视频| 你懂的在线免费观看| 性刺激久久久久久久久| 夜夜揉揉日日人人青青| 久久这里只精品热免费99| 精品一区二区三区四区| 榴莲视频app色版| 国产馆在线观看免费的| 一级毛片不收费| 日本SM极度另类视频| 亚洲日本中文字幕天天更新| 狠狠躁夜夜躁人人爽天天古典 | 日韩欧美在线播放| 亚洲国产精品尤物yw在线观看| 99rv精品视频在线播放| 国产色在线播放| 99精品国产高清一区二区| 日本理论午夜中文字幕| 亚洲精品国产首次亮相| 色综合蜜桃视频在线观看| 国产精品无码久久久久久久久久 | 一本久久a久久精品vr综合| 日本a∨在线观看| 久久亚洲日韩看片无码 | 5g影院5g天天爽永久免费影院| 日韩久久精品一区二区三区| 亚洲网站免费看| 色噜噜狠狠一区二区| 国产成人cao在线| 91偷偷久久做嫩草电影院| 把水管开水放b里是什么感觉| 亚洲精品短视频| 痴汉の电梯在线播放| 制服丝袜中文字幕在线观看| 麻豆国产精品va在线观看不卡| 怡红院在线视频精品观看| 欧美一级夜夜爽视频| 你懂的视频在线|