On January 15, 2021, the people's Bank of China issued the law on money laundering of legal person financial institutions

And guidelines for self-assessment of terrorist financing risks (yfhf [2021] No. 1) (in Chinese)

Hereinafter referred to as the "guidelines"), which clearly puts forward the requirements for all legal person financial institutions and non bank branches

Money laundering and terrorist financing risks of Payment institutions (hereinafter referred to as "legal person financial institutions")

Guiding principles and specific requirements of self-assessment (hereinafter referred to as "self-assessment")

Please. The issuance of the "guidelines" is the implementation of the "General Office of the State Council" by the people's Bank of China

It is intended to improve the regulatory system and mechanism of anti money laundering, anti terrorist financing and anti tax evasion

See the specific practice of the Convention, which will help legal person financial institutions identify and evaluate money laundering and

Risk of terrorist financing and optimize the resource allocation of anti money laundering and anti terrorist financing

Establish and implement management strategies, policies and procedures commensurate with their risks,

Effectively improve the effectiveness of anti money laundering. However, for many corporate finance

For institutions, the assessment of relevant risks should be completed within the specified time limit of less than two years

Identify and evaluate the current situation, and generate a self-assessment meeting the requirements of the guidelines

The report is undoubtedly a big challenge