CHINA TIGHTENS ANTI-MONEY LAUNDERING RULES
March 1st, 2010
BY WANG FANGQING
CHINA will continue to crack down money on laundering in the next two years with a heavy hand, according to the nation's central bank and financial intelligence unit, the People's Bank of China (PBC). The bank announced a new five-year anti-money laundering strategy, beginning in 2008 and running to 2012, at a conference held in Beijing at the end of December 2009. It has taken time to finalise - hence the launch came after the programme was supposed to begin. It is China's first anti-money laundering strategy and was first mooted in 2007; a ...
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