CHINA STRUGGLES TO ERECT EFFECTIVE ANTI-MONEY LAUNDERING CONTROLS IN BOOMING ECONOMY AWASH WITH DIRTY MONEY
January 1st, 2008
BY MARK GODFREY, in Beijing
A YEAR after China began enforcing its Law of the People's Republic of China on Anti-Money Laundering - effective from January 2007 - observers are wary about the ability of the country's understaffed enforcement agencies to keep pace with huge inflows of questionable funds into China's booming economy.
China fared relatively well in a June 2007 assessment of anti-money laundering and counter-terrorist financing standards by the Financial Action Task Force (FATF). China in a "very short time" made "significant ...
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