China plans to amend the AML Law and set up an AML monitoring and analysis agency

Sina Financial News The revised draft of the AML Law was submitted to the Standing Committee of the 14th National People's Congress for initial deliberation on the 23rd. The revised draft consists of 7 chapters and 62 articles, which stipulate that the AML administrative department of the State Council shall establish an AML monitoring and analysis agency to carry out AML fund monitoring and be responsible for receiving and analyzing large-value transactions and suspicious transaction reports.

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