Financial Crime World

China’s Financial Crimes Investigation Process: A Step-by-Step Guide

China has taken significant strides in strengthening its financial crimes investigation process, with the establishment of the China Anti-Money Laundering Monitoring and Analysis Center (CAMLMAC) in 2004.

Under the Law of the People’s Republic of China on the People’s Bank of China, PBC is the supervisory authority for anti-money laundering operations by financial institutions. This legal framework provides the necessary powers to CAMLMAC to effectively monitor and analyze financial transactions.

Major Functions

CAMLMAC’s primary functions include:

  • Collecting, processing, and preserving large-value transaction and suspicious transaction information
  • Analyzing such information to identify potential money laundering activities
  • Directing and assisting related departments in conducting anti-money laundering inspections
  • Disseminating suspicious transaction leads to relevant agencies
  • Exchanging financial information with overseas counterparts
  • Establishing and managing a national anti-money laundering database
  • Researching and developing technical standards for reporting large-value transactions

Institutional Structure

The center has 15 divisions, including:

  • General Affairs
  • Information Collection
  • Dissemination
  • Analysis
  • IT Support
  • Research
  • International Cooperation
  • Accounting
  • Human Resources

These divisions work together to ensure the effective functioning of CAMLMAC’s operations.

Human Resources

CAMLMAC currently employs 95 staff members, with approximately:

  • 80% holding PhD or Master’s degrees in fields such as economics, finance, accounting, statistics, law, or IT
  • A strong emphasis on ethical education and professional development to build a team of qualified, well-disciplined, devoted, and professional staff

China’s commitment to combating financial crimes has led to the establishment of CAMLMAC, which has become an important legal entity in the country’s anti-money laundering framework. Since its inception, CAMLMAC has provided critical financial intelligence support to law enforcement agencies, enabling them to effectively investigate and prosecute money laundering and related crimes.