China Justice Observer

中司观察

EnglishArabicChinese (Simplified)DutchFrenchGermanHindiItalianJapaneseKoreanPortugueseRussianSpanishSwedishHebrewIndonesianVietnameseThaiTurkishMalay

China Releases Latest Anti-Money Laundering Report, 401 Institutions Punished

Tue, 21 Mar 2023
Categories: China Legal Trends

On 30 Jan. 2023, the People's Bank of China (PBC) issued the “China Anti-Money Laundering (AML) Report 2021”.

The PBC is China’s central bank and the AML regulator.

In 2021, the PBC branches at all levels carried out AML enforcement inspections on 638 obligated institutions.

401 institutions were given administrative penalties for AML violations, with fines amounting to CNY 321 million(approx. USD 46 million). In addition, a total of 759 individuals were punished for their violations, with fines amounting to CNY 19.36 million (approx. USD 2.8 million).

In 2021, the China Anti-Money Laundering Monitoring & Analysis Center received large-value transaction reports and suspicious transaction reports from 4,453 reporting institutions, including 3.816 million suspicious transaction reports, an increase of 47.52% year-on-year.

In 2021, the PBC branches processed 16,196 key suspicious transaction clues, and conducted AML investigations 7,321 times into the 692 clues requiring thorough investigation. In addition, the PBC assisted law enforcement authorities to detect 1,004 suspected money laundering cases, up 41.4% year-on-year.

In 2021, Chinese procuratorates approved the arrest of 28,938 people in 15408 cases suspected of money laundering crimes, and initiated the prosecution of 47,025 people in 24,341 cases.

In 2021, Chinese courts concluded 15,368 money-laundering cases at first instance according to the law, and judgments against 31,883 defendants have taken effect.

 

 

Cover Photo by 李大毛 没有猫 on Unsplash

 

Contributors: CJO Staff Contributors Team

Save as PDF

You might also like

Beijing Passes Autonomous Vehicle Regulation

In December 2024, Beijing passed the "Beijing Autonomous Vehicle Regulation," effective April 1, 2025, to promote development and safety, allowing self-driving cars in taxis, buses, and more after rigorous testing.

SPC Revises Rules on Mainland China - Taiwan Judgment Recognition

China’s Supreme People’s Court (SPC) has amended regulations on the mutual recognition and enforcement of civil judgments between Mainland China and Taiwan, clarifying application procedures, exceptions, and jurisdictional conflicts, effective January 1, 2025.

China Establishes Shanghai International Commercial Court

The Shanghai International Commercial Court was established in December 2024 as a division of the Shanghai First Intermediate People’s Court, with exclusive jurisdiction over foreign-related commercial cases and arbitration judicial review, along with newly released jurisdictional regulations and model clauses.

SPC Issues Guiding Cases on Gig Worker Protection

In December 2024, China’s Supreme People’s Court issued its first guiding cases on gig worker labor disputes, clarifying criteria for determining employment relationships with platform companies.

China Amends Supervision Law to Strengthen Oversight

The newly amended Supervision Law of the People’s Republic of China, effective June 1, 2025, strengthens oversight, limits supervisory powers, and enhances protections for citizens' rights through standardized enforcement.