OREANDA-NEWS. March 05, 2012. The 23rd Plenary of the Financial Action Task Force (FATF) voted and approved the follow-up report to the mutual evaluation of China, highly commended and unanimously recognized the unswerving efforts and substantial progress China has made in the field of AML/CFT since it became a FATF member, and agreed to wind up the regular follow-up process on China, reported the press-centre of PBC.

This indicates that China’s AML/CFT work has reached the internationally accepted standards, which is helpful for China to further participate in the formulation of international rules on AML/CFT, to increase its voice in international affairs and to safeguard its national interest. Up to now, among the 34 member countries (territories) of the FATF, China is the 13th to have met the international standards and the first in the developing world.

The Financial Action Task Force (FATF) is an inter-governmental body with global membership in the field of AML/CFT, and also the maker and promoter of the AML/CFT standards. Its members enjoy a leading position in the field of AML/CFT across the world.