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China introduces three-year action plan to tackle money laundering; People’s Bank of China says AML situation is ‘still grim’

By Elizabeth Hearst for AMLi

China has announced it has launched a three-year action plan to tackle money laundering in the country, which will see collaboration between some of the country’s top bodies including the Central Bank, Ministry of Public Security and State Administration of Banking. 

In a statement, the People’s Bank of China said the situation of “cracking down on money laundering and crimes is still grim”. 

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