The promulgation and implementation of the Anti-Money Laundering Law can prevent drug crimes, organized crimes of underworld nature, terrorist crimes, smuggling crimes, corruption and bribery crimes, and crimes that undermine financial management order through various means.
The promulgation and implementation of the Anti-Money Laundering Law has brought China's anti-money laundering work into a new era. This law, which has attracted much attention from the society, has gone through five years of proposal, drafting and deliberation.
The establishment of various basic anti-money laundering systems at the national legislative level marks another key step in the legalization and internationalization of China's anti-money laundering work, which is of great significance for preventing money laundering activities, curbing money laundering crimes, maintaining financial order and protecting social fairness and justice.
Extended data:
China's anti-money laundering legal system has been continuously improved and perfected, and the legislative work has made great progress. This will be reflected in the anti-money laundering legislation; The role of anti-money laundering soft legal system measures such as industry anti-money laundering work guidelines will be enhanced; China's voice and guiding role in the formulation of international anti-money laundering rules will also be strengthened.
In 2006, China passed the Anti-Money Laundering Law, which is a milestone and epoch-making significance in the history of anti-money laundering legislation. China's anti-money laundering legislation has made great progress and established a unified institutional framework.
References:
Baidu Encyclopedia-People's Republic of China (PRC) Anti-Money Laundering Law