PBOC Leads Launch of Nationwide Three Year Anti-money Laundering Campaign

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The Chinese central bank has led the launch of a new multi-year campaign against money-laundering in the financial sector.

The People’s Bank of China (PBOC) led the release of the “Three Year Campaign Plan to Strike against and Regulate Money Laundering Crimes” (打击治理洗钱违法犯罪三年行动计划(2022—2024年)) on 26 January.

The campaign will be held on a nationwide basis during the three year period from January 2022 to December 2024, and will be led by PBOC and the Ministry of Public Security.

The Plan calls for authorities throughout China to “increase their political standing, strengthen organisation and leadership, strengthen promotion and training, implement a ‘one case dual inspections’ work mechanism and strengthen money laundering category analysis and anti-money laundering inspections.”