Chapter I General Provisions
first
This Law is formulated for the purpose of preventing money laundering activities, maintaining financial order and curbing money laundering crimes and related crimes.
second
The term "anti-money laundering" as mentioned in this Law refers to the act of taking relevant measures in accordance with the provisions of this Law to prevent the source and nature of money laundering activities such as drug crimes, organized crimes of underworld nature, terrorist crimes, smuggling crimes, corruption and bribery crimes, crimes against financial management order and financial fraud crimes.
essay
Financial institutions established within the territory of People's Republic of China (PRC) and specific non-financial institutions that need to fulfill their anti-money laundering obligations according to regulations shall take preventive and monitoring measures according to law, establish and improve the customer identification system, the customer identification data and transaction record keeping system, and the reporting system for large transactions and suspicious transactions, so as to fulfill their anti-money laundering obligations.
Article 4
The State Council anti-money laundering administrative department is responsible for the supervision and management of anti-money laundering throughout the country. The relevant departments and institutions in the State Council shall perform their duties of anti-money laundering supervision and management within their respective duties.
The State Council anti-money laundering administrative departments, relevant departments, institutions and judicial organs in the State Council should cooperate with each other in anti-money laundering work.
Article 5
Keep confidential customer identity data and transaction information obtained by performing anti-money laundering duties or obligations according to law; Except as provided by law, it shall not be provided to any unit or individual.
Customer identity data and transaction information obtained by anti-money laundering administrative departments and other departments and institutions with anti-money laundering supervision and management responsibilities according to law can only be used for anti-money laundering administrative investigations.
Customer identity data and transaction information obtained by judicial organs according to this law can only be used for anti-money laundering criminal proceedings.
Article 6
Institutions that perform anti-money laundering obligations and their staff members shall submit reports on large transactions and suspicious transactions according to law, which shall be protected by law.
Article 7
Any unit or individual who discovers money laundering activities has the right to report to the anti-money laundering administrative department or the public security organ. The organ that accepts the report shall keep confidential the informant and the contents of the report.
Chapter II Supervision and Administration of Anti-money Laundering
Article 8
The anti-money laundering administrative department in the State Council organizes and coordinates the national anti-money laundering work, is responsible for the monitoring of anti-money laundering funds, formulates or cooperates with relevant financial supervision and management institutions in the State Council to formulate anti-money laundering regulations for financial institutions, supervises and inspects the performance of anti-money laundering obligations by financial institutions, investigates suspicious transactions within the scope of duties, and performs other anti-money laundering related duties stipulated by laws and the State Council.
The dispatched office of the anti-money laundering administrative department of the State Council shall, within the scope authorized by the anti-money laundering administrative department of the State Council, supervise and inspect the performance of anti-money laundering obligations by financial institutions.
Article 9
The relevant financial supervision and management institutions in the State Council participate in the formulation of anti-money laundering rules and regulations of the financial institutions under their supervision, put forward requirements for the financial institutions under their supervision to establish and improve the internal control system against money laundering according to regulations, and perform other anti-money laundering related duties stipulated by laws and the State Council.
Article 10
The anti-money laundering administrative department in the State Council has set up an anti-money laundering information center, which is responsible for receiving and analyzing reports of large-value transactions and suspicious transactions, reporting the analysis results to the anti-money laundering administrative department in the State Council as required, and performing other duties as stipulated by the anti-money laundering administrative department in the State Council.
Article 11
The anti-money laundering administrative department in the State Council can obtain the necessary information from the relevant departments and institutions in the State Council, and the relevant departments and institutions in the State Council should provide it for the purpose of monitoring anti-money laundering funds.
The administrative department in charge of anti-money laundering in the State Council shall regularly inform the relevant departments and institutions in the State Council about the anti-money laundering work.
Article 12
If the customs discovers that the cash and bearer securities carried by individuals in and out of the country exceed the prescribed amount, it shall promptly notify the anti-money laundering administrative department.
The amount standard declared in the preceding paragraph shall be stipulated by the anti-money laundering administrative department of the State Council in conjunction with the General Administration of Customs.
Article 13
The administrative department in charge of anti-money laundering and other departments and institutions with anti-money laundering supervision and management responsibilities according to law shall report to the investigation organ in a timely manner when they discover the trading activities suspected of money laundering crimes.
Article 14
The relevant financial supervision and management institutions in the State Council shall review the internal control system plan for anti-money laundering of newly established financial institutions when examining and approving new financial institutions or adding branches of financial institutions; An application for establishment that does not conform to the provisions of this Law shall not be approved.
Chapter III Anti-money Laundering Obligations of Financial Institutions
Article 15
Financial institutions shall establish and improve the internal control system against money laundering in accordance with the provisions of this law, and the person in charge of financial institutions shall be responsible for the effective implementation of the internal control system against money laundering.
Financial institutions shall set up special anti-money laundering institutions or designate internal institutions to be responsible for anti-money laundering work.
Article 16
Financial institutions shall establish a customer identification system in accordance with regulations.
When establishing business relations with customers or providing customers with one-time financial services such as cash remittance, cash exchange and bill payment with a specified amount or more, financial institutions shall require customers to produce real and valid identity documents or other identity documents for verification and registration.
Where a customer handles business on behalf of others, the financial institution shall simultaneously check and register the identity documents or other identification documents of the agent and the principal.
If the beneficiary of the contract is not a customer, the financial institution shall also check and register the identity certificate or other identity documents of the beneficiary.
Financial institutions shall not provide services or conduct transactions for unidentified customers, and shall not open anonymous or pseudonymous accounts for customers.
If a financial institution has doubts about the authenticity, validity or completeness of the previously obtained customer identity information, it shall re-identify the customer identity.
Any unit or individual shall provide true and valid identity documents or other identification documents when establishing business relations with financial institutions or requiring financial institutions to provide them with one-time financial services.
Article 17
Where a financial institution identifies a customer through a third party, it shall ensure that the third party has taken customer identification measures that meet the requirements of this Law; If the third party fails to take customer identification measures in line with the provisions of this Law, the financial institution shall bear the responsibility for failing to fulfill the obligation of customer identification.
Article 18
Financial institutions can identify customers, and if necessary, they can verify the relevant identity information of customers with public security, industrial and commercial administration departments.
Article 19
Financial institutions shall, in accordance with the provisions, establish a custody system for customer identity information and transaction records.
During the business relationship, if the customer identity information changes, the customer identity information should be updated in time.
Customer identity information shall be kept for at least five years after the end of business relationship and customer transaction information.
When a financial institution goes bankrupt or disbands, it shall hand over the customer identity information and customer transaction information to the institution designated by the relevant department of the State Council.
Article 20
Financial institutions shall, in accordance with the provisions, implement a reporting system for large-value transactions and suspicious transactions.
If a single transaction handled by a financial institution or a cumulative transaction within a specified period exceeds the specified amount or suspicious transactions are found, it shall promptly report to the Anti-Money Laundering Information Center.
Article 21
The specific measures for financial institutions to establish customer identification system, customer identification data and transaction record keeping system shall be formulated by the anti-money laundering administrative department of the State Council in conjunction with the relevant financial supervision and management institutions of the State Council. Specific measures for reporting large transactions and suspicious transactions of financial institutions shall be formulated by the anti-money laundering administrative department of the State Council.
Article 22
Financial institutions shall carry out anti-money laundering training and publicity in accordance with the requirements of the anti-money laundering prevention and monitoring system.
Chapter IV Anti-Money Laundering Investigation
Article 23
If the administrative department in charge of anti-money laundering in the State Council or its provincial dispatched offices find suspicious trading activities and need to be investigated and verified, they may investigate with financial institutions, which shall cooperate with them and truthfully provide relevant documents and materials.
When investigating suspicious transactions, there shall be no less than two investigators, and they shall show their legal certificates and the notice of investigation issued by the anti-money laundering administrative department of the State Council or its provincial institutions. Financial institutions have the right to refuse to investigate if there are fewer than two investigators or if they cannot produce legal certificates and investigation notices.
Article 24
To investigate suspicious trading activities, the relevant personnel of financial institutions may be required to explain the situation.
Inquiries should be recorded. The record of inquiry shall be checked by the person being questioned. If there are omissions or errors in the records, the interviewee may ask for supplements or corrections. After the person questioned confirms that the transcript is correct, he shall sign or seal it; Investigators should also sign the records.
Article 25
If further verification is needed in the investigation, with the approval of the administrative department of anti-money laundering in the State Council or the person in charge of its provincial agency, you can consult and copy the account information, transaction records and other related materials of the investigated object; Documents and materials that may be transferred, concealed, tampered with or damaged may be sealed up.
Investigators should check the documents and materials jointly sealed with the staff of the financial institution present, and make a list in duplicate on the spot, which shall be signed or sealed by the investigators and the staff of the financial institution present, one for the financial institution and one for future reference.
Article 26
If the suspicion of money laundering cannot be ruled out after investigation, it shall immediately report to the investigation organ with jurisdiction. If the customer requests to transfer the funds in the account involved abroad, he may take temporary freezing measures with the approval of the head of the anti-money laundering administrative department in the State Council.
After receiving the report, the investigation organ shall promptly decide whether to continue to freeze the funds temporarily frozen in accordance with the provisions of the preceding paragraph. If the investigation organ considers it necessary to continue freezing, it shall take freezing measures in accordance with the provisions of the Criminal Procedure Law; If it is deemed unnecessary to continue freezing, it shall immediately notify the anti-money laundering administrative department in the State Council, and the anti-money laundering administrative department in the State Council shall immediately notify the financial institution to lift the freezing.
Temporary freezing shall not exceed forty-eight hours. After taking temporary freezing measures in accordance with the requirements of the anti-money laundering administrative department of the State Council, the financial institution shall immediately lift the freezing if it fails to receive the notice of the investigation organ to continue freezing within 48 hours.
Chapter V International Cooperation against Money Laundering
Article 27
People's Republic of China (PRC) conducts international cooperation against money laundering on the basis of international treaties concluded or acceded to, or on the principle of equality and mutual benefit.
Article 28
Authorized by the State Council, the anti-money laundering administrative department of the State Council carries out anti-money laundering cooperation with foreign governments and relevant international organizations on behalf of the China government, and exchanges anti-money laundering related information and materials with overseas anti-money laundering institutions according to law.
Article 29
Judicial assistance involved in the investigation of money laundering crimes shall be handled by judicial organs in accordance with the provisions of relevant laws.
Chapter VI Legal Liability
Article 30
Personnel engaged in anti-money laundering work by the administrative department in charge of anti-money laundering and other departments and institutions with anti-money laundering supervision and management responsibilities according to law shall be given administrative sanctions according to law if they commit any of the following acts:
(a) in violation of the provisions of the inspection, investigation or take temporary freezing measures;
(2) divulging state secrets, business secrets or personal privacy known in the anti-money laundering work;
(three) in violation of the provisions of the relevant institutions and personnel to implement administrative punishment;
(four) other acts that do not perform their duties according to law.
Article 31
If a financial institution commits one of the following acts, it shall be ordered to make corrections within a time limit by the anti-money laundering administrative department of the State Council or its authorized institutions at or above the municipal level; If the circumstances are serious, it is suggested that the relevant financial supervision and regulation institutions order financial institutions to impose disciplinary sanctions on directors, senior managers and other directly responsible personnel according to law:
(1) Failing to establish an internal control system for anti-money laundering in accordance with regulations;
(2) Failing to set up a special anti-money laundering institution or to designate an internal institution to be responsible for anti-money laundering;
(3) Failing to conduct anti-money laundering training for employees in accordance with regulations.
Article 32
If a financial institution commits one of the following acts, it shall be ordered to make corrections within a time limit by the anti-money laundering administrative department of the State Council or its authorized institutions at or above the municipal level; If the circumstances are serious, a fine of not less than 200,000 yuan but not more than 500,000 yuan shall be imposed, and a fine of not less than 10,000 yuan but not more than 50,000 yuan shall be imposed on the directly responsible directors, senior managers and other directly responsible personnel:
(1) Failing to fulfill the obligation of customer identification in accordance with regulations;
(2) Failing to keep customer identity information and transaction records as required;
(3) Failing to submit a large transaction report or a suspicious transaction report as required;
(4) Trading with unidentified customers or opening anonymous accounts or pseudonyms for customers;
(five) in violation of confidentiality provisions, the disclosure of relevant information;
(6) Refusing or obstructing the anti-money laundering inspection and investigation;
(seven) refusing to provide investigation materials or deliberately providing false materials.
If a financial institution commits the acts mentioned in the preceding paragraph, resulting in the consequences of money laundering, it shall be fined not less than 500,000 yuan but not more than 5 million yuan, and the directors, senior managers and other directly responsible personnel shall be fined not less than 50,000 yuan but not more than 500,000 yuan; If the circumstances are particularly serious, the administrative department in charge of anti-money laundering may suggest that the relevant financial supervision and regulation institution order it to suspend business for rectification or revoke its business license.
For the directors, senior managers and other directly responsible personnel of financial institutions under the circumstances specified in the preceding two paragraphs, the anti-money laundering administrative department may suggest that the relevant financial supervision and regulation institutions order the financial institutions to be given disciplinary sanctions according to law, or suggest that their qualifications be revoked according to law and they are prohibited from engaging in related financial industries.
Article 33
Anyone who violates the provisions of this law and constitutes a crime shall be investigated for criminal responsibility according to law.
Chapter VII Supplementary Provisions
Article 34
The financial institutions mentioned in this Law refer to policy banks, commercial banks, credit cooperatives, postal savings and remittance institutions, trust and investment companies, securities companies, futures brokerage companies, insurance companies and other financial institutions determined and announced by the anti-money laundering administrative department of the State Council.
Article 35
The scope of specific non-financial institutions that should perform anti-money laundering obligations, the specific measures to perform anti-money laundering obligations and their supervision and management shall be formulated by the anti-money laundering administrative department of the State Council in conjunction with the relevant departments of the State Council.
Article 36
The law applies to the monitoring of funds suspected of terrorist activities; Where other laws provide otherwise, such provisions shall prevail.
Article 37
This law shall come into force as of June 6, 2007.