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China Bolsters Anti-Terrorism Financing, Money Laundering Rules
By Brian Orsak
printChina has issued counter terrorism financing rules requiring banks to report transactions that they suspect may be tied to acts of terror, a state-run news organization said Tuesday. The rules, effective immediately, require banks to report suspicious transactions within 10 days to the anti-money laundering division of the country's central bank. China adopted the rules, which extend a law enacted last year, as part of its bid to join the international Financial Action Task Force, the report said. The Paris-based FATF, an international association that sets counter-terrorism financing and AML standards, is expected to decide at its June 29 plenary...
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