Legal propaganda

2021-03-05 22:30

What is money laundering and anti-money laundering?


      Money laundering is the act and process of concealing and disguising the source and nature of illegal funds, and turning them into seemingly legitimate funds by some means. It mainly includes providing capital accounts, assisting in converting property forms, assisting in transferring funds or remittances overseas.
      Anti-money laundering refers to the prevention of drug crimes, organized crimes of underworld nature, terrorist activities, smuggling crimes, corruption and bribery crimes, crimes of disrupting financial management order, and financial fraud crimes through various means. For money laundering activities related to the source and nature of criminal proceeds and their proceeds, relevant measures shall be formulated and taken in accordance with relevant anti-money laundering laws and regulations.