"Anti-Money Laundering Law of the People's Republic of China": "If the anti-money laundering administrative department of the State Council or its provincial-level dispatched office discovers suspicious transaction activities and needs to be investigated and verified, it may conduct an investigation with a financial institution , financial institutions shall cooperate and truthfully provide relevant documents and information”

Extended information:

Chapter 1 General Provisions

Article 1 In order to prevent and curb money laundering , terrorist financing and related illegal and criminal activities, and safeguarding national security and financial order, this law is formulated.

Article 2 The term “anti-money laundering” as used in this Law refers to the prevention of money laundering activities that cover up and conceal criminal proceeds and their sources and nature through various means, and curb related illegal and criminal activities. In accordance with this Law Take relevant measures.

This Law shall apply to the prevention and suppression of terrorist financing activities; if other laws provide otherwise, their provisions shall apply.

Article 3 Financial institutions and specific non-financial institutions that are required to perform anti-money laundering obligations in accordance with regulations shall take prevention and monitoring measures in accordance with the law, establish and improve anti-money laundering internal control systems, and perform customer due diligence, customer identity information and Anti-money laundering obligations such as transaction record keeping, large-value transaction and suspicious transaction reporting, and special anti-money laundering precautions.

Article 4 Units and individuals shall cooperate in accordance with the law with customer due diligence investigations carried out by financial institutions and specific non-financial institutions to fulfill anti-money laundering obligations, and cooperate with anti-money laundering investigations; perform declarations of huge cash receipts and payments, and special anti-money laundering regulations in accordance with the law. Obligations such as preventive measures; shall not facilitate illegal and criminal activities such as money laundering.

Article 5 The anti-money laundering administrative department of the State Council is responsible for the supervision and management of anti-money laundering nationwide. Relevant departments and agencies of the State Council shall perform anti-money laundering supervision and management responsibilities within the scope of their respective responsibilities.

The anti-money laundering administrative department of the State Council, relevant departments, agencies, supervisory agencies, and judicial organs of the State Council shall cooperate with each other in anti-money laundering work.

Article 6: Units and individuals shall keep confidential customer identity information, transaction information and anti-money laundering investigation information obtained by performing anti-money laundering obligations in accordance with the law; they shall not provide it to any unit or individual except in accordance with legal provisions.

Relevant state agencies, departments, and institutions must protect state secrets, business secrets, and personal privacy in accordance with the law when using anti-money laundering information.

Article 7: Institutions that perform anti-money laundering obligations and their staff are protected by law when they submit reports on large-value transactions and suspicious transactions and adopt money laundering risk management measures in accordance with the law.

Article 8 Any unit or individual who discovers failure to perform anti-money laundering obligations has the right to report to the anti-money laundering administrative department or relevant competent departments; when discovering money laundering activities, it has the right to report to the anti-money laundering administrative department, Report to relevant competent authorities and public security organs. The agency that accepts the report shall keep the reporter and the content of the report confidential.

Article 9 This Law shall apply to the supervision and management of units and individuals within the territory of the People's Republic of China and the country that are required to perform anti-money laundering obligations.

Money laundering and terrorist financing activities occurring outside the territory of the People’s Republic of China endanger China’s national security and sovereignty, or infringe upon the legitimate rights and interests of Chinese citizens, legal persons and other organizations, or disrupt China’s financial management order. Relevant units and individuals may be dealt with and held accountable in accordance with the relevant provisions of this Law.

Chapter 2 Anti-money Laundering Supervision and Management

Article 10 The anti-money laundering administrative department of the State Council shall organize and coordinate the nationwide anti-money laundering work, be responsible for the monitoring of anti-money laundering funds, and formulate or coordinate with the State Council Relevant financial regulatory agencies and competent authorities of specific non-financial institutions formulate anti-money laundering regulations for financial institutions and specific non-financial institutions, supervise and inspect the performance of anti-money laundering obligations by financial institutions and specific non-financial institutions, and investigate suspicious transaction activities within the scope of their duties, Perform other duties related to anti-money laundering as prescribed by law and the State Council.

The dispatched offices of the anti-money laundering administrative department of the State Council shall, within the scope of authorization of the anti-money laundering administrative department of the State Council, supervise and inspect the performance of anti-money laundering obligations by financial institutions and specific non-financial institutions.

Article 11 The relevant financial regulatory agencies of the State Council shall participate in the formulation of anti-money laundering regulations for the financial institutions they supervise and manage, put forward requirements for the financial institutions they supervise and manage to establish and improve internal anti-money laundering control systems, and supervise and inspect the financial institutions they supervise and manage. Supervise and manage the establishment and improvement of anti-money laundering internal control systems of financial institutions, implement anti-money laundering review requirements in market access, handle anti-money laundering supervisory opinions and suggestions put forward by the anti-money laundering administrative department of the State Council in accordance with the law, and implement relevant anti-money laundering regulations stipulated by law and the State Council. Other duties related to money laundering.

If the relevant financial regulatory agencies discover that financial institutions have violated anti-money laundering laws and regulations during prudential supervision, they shall provide regulatory opinions and suggestions to the anti-money laundering administrative department in accordance with the law.

Article 12 The relevant departments in charge of specific non-financial institutions under the State Council shall formulate or participate in the formulation of anti-money laundering regulations for specific non-financial institutions under supervision and management, and supervise and inspect the performance of anti-money laundering obligations by specific non-financial institutions under supervision and management. situation, handle the anti-money laundering regulatory opinions and suggestions put forward by the anti-money laundering administrative department of the State Council in accordance with the law, and perform other anti-money laundering duties stipulated by the law and the State Council.

Article 13 The anti-money laundering administrative department of the State Council establishes the China Anti-Money Laundering Monitoring and Analysis Center, which is responsible for receiving and analyzing reports on large-value transactions and suspicious transactions, and reports on large cash receipts and payments, and reporting reports to the State Council in accordance with regulations. The administrative department for money laundering shall report the work results and perform other duties prescribed by the administrative department for anti-money laundering under the State Council.

The China Anti-Money Laundering Monitoring and Analysis Center may require institutions that submit transaction reports to provide additional relevant information when necessary.

Article 14 The China Anti-Money Laundering Monitoring and Analysis Center is responsible for managing the centralized and unified national anti-money laundering information database and taking necessary measures to maintain the security of anti-money laundering information.

Article 15: In order to perform anti-money laundering duties, the anti-money laundering administrative department of the State Council may obtain necessary information from relevant state agencies, departments, and institutions, and relevant state agencies, departments, and institutions shall provide it in accordance with the law.

In order to perform the supervision and management, administrative investigation, supervisory investigation, judicial litigation and other duties of illegal activities related to money laundering, the relevant state agencies, departments and institutions, within the scope of legal provisions, may request from the State Council’s anti-money laundering administrative director Department obtains anti-money laundering information.

The anti-money laundering administrative department of the State Council shall regularly report the status of anti-money laundering work to relevant departments and agencies of the State Council.

Article 16 If the customs finds that the cash or bearer payment vouchers carried by an individual when entering or leaving the country exceed the prescribed amount, it shall promptly report it to the anti-money laundering administrative department.

The amount standards that shall be reported in the preceding paragraph shall be stipulated by the anti-money laundering administrative department of the State Council in conjunction with the General Administration of Customs.

Article 17 Companies, enterprises and other market entities shall submit beneficial owner information through the relevant information systems of the market supervision and management department. The anti-money laundering administrative department and the market supervision and management department shall conduct management in accordance with relevant laws and regulations.

The anti-money laundering administrative departments, relevant state agencies, departments, and institutions may use beneficial owner information when performing their duties in accordance with the law. The use of beneficial owner information shall protect state secrets, business secrets and personal privacy in accordance with the law.

Article 18 If the anti-money laundering administrative department and other departments and institutions legally responsible for anti-money laundering supervision and management discover transaction activities suspected of money laundering and related crimes, they shall transfer them to the authority with jurisdiction; upon discovery, Transaction activities suspected of other illegal activities shall be reported to the administrative agency with jurisdiction based on the specific circumstances; the receiving department shall promptly provide feedback on the results in accordance with laws and relevant regulations.

Article 19 The anti-money laundering administrative department of the State Council shall carry out or work with relevant organs, departments and institutions of the State Council to carry out money laundering risk assessments of the country, industries, financial institutions and specific non-financial institutions, and reasonably allocate regulatory resources according to the risk status , take appropriate risk prevention and control measures.

Article 20: In order to perform the duties stipulated in this Law, the anti-money laundering administrative department of the State Council and its dispatched agencies have the right to enforce this Law and the anti-money laundering administrative department of the State Council against financial institutions and other units and individuals in accordance with the provisions of this Law. Conduct inspection and supervision on the conduct of management regulations formulated in this Law.

Article 21 The anti-money laundering administrative department of the State Council and its dispatched agencies may take the following measures to conduct on-site inspections in order to perform their duties stipulated in this Law:

(1) Entering the subject area The regulatory agency conducts inspections;

(2) Questions the staff of the regulated institution and requires them to explain relevant inspection matters;

(3) Review and copy the information of the regulated institution and the inspection Documents and information related to the matter shall be sealed, and documents and information that may have been transferred, concealed or damaged shall be sealed;

(4) Inspect and seal the computer network and information system of the supervised institution, retrieve and preserve the Relevant data and information in the computer network and information system of the regulatory agency.

On-site inspections must be approved by the anti-money laundering administrative department of the State Council or the person in charge of its dispatched office at or above the level of a city divided into districts. During an on-site inspection, there shall be no less than two inspectors, and they shall produce legal certificates and inspection notices; if there are less than two inspectors or fail to produce legal certificates and inspection notices, the supervised institution has the right to refuse to accept the inspection.

The anti-money laundering administrative department of the State Council and its dispatched agencies may also take off-site inspection measures as necessary, issue inspection notices to the regulated institutions, and require the regulated institutions to provide corresponding documents, information, data, information.

Article 22 The anti-money laundering administrative department of the State Council and its dispatched agencies may carry out risk monitoring and assessment of supervised institutions, and implement this Law and the State Council's anti-money laundering on supervision and management matters and supervised institutions. The administrative department shall evaluate and report the situation in accordance with the management regulations formulated by this law.

The anti-money laundering administrative department of the State Council and its dispatched agencies may, if necessary to perform their duties, interview the directors, supervisors, senior managers or department heads of the regulated institutions for supervisory and management interviews, and require the regulated institutions to Directors, supervisors, senior managers or department heads can provide explanations on major matters of business activities and risk management; they can provide supervisory reminders on risk events or outstanding issues found in the regulated institutions during supervisory activities; they can conduct interviews and other means to conduct supervision on the regulated institutions; Conduct on-site inspections and policy guidance on the rectification of regulatory agency issues.

Article 23 The anti-money laundering administrative department of the State Council and its dispatched agencies have the right to require the regulated institutions to report their performance of anti-money laundering duties based on the needs of daily supervision and management. Regulated institutions shall provide various documents, materials, data, and information in a true, accurate, complete, and timely manner in accordance with the requirements of the anti-money laundering administrative department of the State Council and its dispatched agencies.

Article 24 Financial institutions established within the territory of the People’s Republic of China and their overseas branches shall establish a unified anti-money laundering compliance system at the group level. The anti-money laundering administrative department of the State Council and The relevant financial regulatory agencies of the State Council may supervise and manage them in accordance with this Law.

Article 25: For countries or regions with serious money laundering and terrorist financing risks, the anti-money laundering administrative department of the State Council may, on the basis of soliciting opinions from relevant departments and with the approval of the State Council, list them as Countries or regions with high risks of money laundering, and require financial institutions and specific non-financial institutions to take corresponding risk management measures.

Article 26: Institutions that perform anti-money laundering obligations may establish and join relevant associations and other industry self-regulatory organizations in accordance with the law. Relevant associations and other industry self-regulatory organizations should play the role of anti-money laundering coordination and self-discipline under the guidance of the anti-money laundering administrative department of the State Council.

Chapter 3 Anti-Money Laundering Obligations

Article 27 Financial institutions shall establish and improve anti-money laundering internal control systems in accordance with the provisions of this Law, assess the institution’s money laundering risk status and formulate corresponding risk policies management measures, and build anti-money laundering related systems based on actual conditions.

Financial institutions should establish specialized anti-money laundering agencies or designate internal agencies to be responsible for anti-money laundering work, allocate corresponding human resources according to their business scale and money laundering risk status, and carry out anti-money laundering training and publicity work as required.

Financial institutions shall supervise and inspect the effective implementation of the anti-money laundering internal control system through internal audits or independent audits. The person in charge of the financial institution shall be responsible for the effective implementation of the anti-money laundering internal control system.

Article 28 Financial institutions shall establish a customer due diligence system in accordance with regulations.

Financial institutions should conduct due diligence to understand customer identities, transaction backgrounds and risk status, and adopt corresponding risk management measures to prevent the financial system from being used for money laundering and other illegal and criminal activities.

When financial institutions establish business relationships with customers or provide customers with one-time financial services such as cash remittances, cash exchanges, and bill redemptions above a specified amount, they should identify and verify the customer's identity and understand the customer's business establishment. The purpose and nature of relationships and transactions, the source and use of funds, identifying and taking reasonable steps to verify customers and beneficial owners of transactions.

During the existence of the business relationship with customers, financial institutions should continue to pay attention to and review the customer's status and transactions, understand the customer's money laundering risks, and take appropriate due diligence and risk management measures in a timely manner based on the risk status.

If a financial institution has doubts about the authenticity, validity or completeness of previously obtained customer identity information, or if it suspects that the customer is involved in money laundering or terrorist financing, it should re-identify the customer.

If a customer is handled by someone else, the financial institution shall check and register the identity documents or other identification documents of the agent and the principal at the same time.

When establishing personal insurance, trust and other business relationships with customers, if the beneficiary of the contract is not the customer himself, the financial institution shall also check and register the beneficiary's identity document or other identity document.

Financial institutions are not allowed to provide services or conduct transactions with unidentified customers, and are not allowed to open anonymous accounts or pseudonymous accounts for customers.

Article 29: If a financial institution identifies a customer through a third party, it shall assess the risk status of the third party and its ability to fulfill its anti-money laundering obligations, and ensure that the third party has adopted customer identification measures that meet the requirements of this Law. Due diligence measures; if the third party has higher risk situations or does not have the ability to perform anti-money laundering obligations, the financial institution shall not identify the customer through the third party; if the third party fails to adopt customer due diligence measures that comply with the requirements of this Law, the financial institution shall Accept liability for failure to perform customer due diligence obligations.

The third party shall provide the entrusting party with information on its performance of anti-money laundering obligations, and provide the entrusting party with necessary customer identity information during customer due diligence; financial institutions shall ensure the authenticity and accuracy of customer identity information Or if the integrity is in question, or if the customer is suspected of being involved in money laundering or terrorist financing, the third party should cooperate with the financial institution in conducting customer due diligence.

Article 30 When conducting customer due diligence, financial institutions may verify the identity of customers and other relevant information with the public security, market supervision and management, civil affairs, taxation, immigration management and other departments in accordance with the law.

Article 31 Financial institutions shall establish a system for retaining customer identity information and transaction records in accordance with regulations.

If the customer identity information changes during the business relationship, the customer identity information should be updated in a timely manner.

Customer identity information and customer transaction information should be kept for at least five years after the end of the business relationship.

When a financial institution goes bankrupt or is dissolved, it shall transfer customer identity data and customer transaction information as well as the electronic carrier containing the above information to the institution designated by the relevant department of the State Council.

Article 32 Financial institutions shall implement large-value transaction and suspicious transaction reporting systems in accordance with regulations.

If a single transaction handled by a financial institution or the cumulative transactions within the prescribed period exceed the prescribed amount or suspicious transactions are discovered, a financial institution shall report it to the China Anti-Money Laundering Monitoring and Analysis Center in a timely manner.

Article 33 Financial institutions shall promptly obtain the list of special anti-money laundering preventive measures stipulated in Article 38 of this Law, conduct real-time review of all customers and their counterparties, and take immediate measures as required. and promptly report to the anti-money laundering administrative department of the State Council.

Article 34: Specific measures for financial institutions to establish customer due diligence systems, customer identity information and transaction record retention systems, and specific measures for establishing and improving anti-money laundering internal control systems and anti-money laundering special preventive measures systems, It is formulated by the anti-money laundering administrative department of the State Council in conjunction with the relevant financial regulatory agencies of the State Council. Specific measures for reporting large-value transactions and suspicious transactions by financial institutions shall be formulated by the anti-money laundering administrative department of the State Council.

Article 35 All units and individuals have the obligation to cooperate with financial institutions and specific non-financial institutions in conducting due diligence in the process of establishing and maintaining business relationships with financial institutions and specific non-financial institutions, and shall Provide true and valid identity documents or identification documents, accurately and completely fill in relevant identity information, and truthfully provide information and materials related to beneficial owners; according to the requirements of financial institutions and specific non-financial institutions, truthfully provide information related to the establishment of business relationships or transaction purposes and Information related to the nature, source and purpose of funds.

If any unit or individual fails to cooperate with customer due diligence, financial institutions and specific non-financial institutions have the right to restrict or refuse to handle business and submit suspicious transaction reports as appropriate.

Article 36 Any unit or individual who, for the purpose of providing goods or services, receives or pays in cash instead of through a financial institution, and the amount is huge and exceeds the prescribed amount, shall report to China Anti-Money Laundering Monitoring Bureau Analysis center reports. Specific measures for reporting large amounts of cash receipts and payments shall be formulated by the anti-money laundering administrative department of the State Council authorized by the State Council in conjunction with relevant departments.

No unit or individual may use methods such as splitting cash transactions to avoid reporting obligations for huge cash receipts and payments.

Article 37 Any unit or individual shall properly keep and use financial accounts and other financial instruments with value collection and payment functions, and shall not rent, lend, or buy or sell financial accounts and other financial instruments with value collection and payment functions. financial instruments, or conduct other activities that facilitate illegal and criminal activities such as money laundering.

Article 38 Any unit or individual shall immediately take special anti-money laundering preventive measures as required for the objects listed in the following list:

(1) National anti-terrorism work List of terrorist organizations and personnel identified by the leading agency and announced by its offices;

(2) In order to fulfill international obligations, the list of targeted financial sanctions issued by the Ministry of Foreign Affairs;

(3) A list identified by the anti-money laundering administrative department of the State Council or in conjunction with relevant departments for individuals and entities with terrorist financing risks, or failure to take measures against individuals and entities with major money laundering risks that may have serious consequences.

Those who are dissatisfied with the list in Item 1 of Paragraph 1 of this Article may seek rights relief in accordance with the Anti-Terrorism Law of the People's Republic of China. If you are dissatisfied with the list in Items 2 and 3 of Paragraph 1 of this Article, you may file an administrative review with the department that made the decision on the list; if you are dissatisfied with the result of the administrative review, you may file an administrative lawsuit in accordance with the law.

Special anti-money laundering preventive measures include but are not limited to prohibiting any transactions with the listed objects, their agents, entities owned or controlled by them; the funds and assets owned or controlled by the listed objects Take freezing or corresponding measures to restrict the listed objects' access to funds and assets.

When implementing special preventive measures against money laundering, the interests of bona fide third parties shall be protected; bona fide third parties may seek rights relief in accordance with this Law or relevant laws. Those listed include basic expenses such as living expenses, medical care, and other necessary expenses. They can apply for exemption to the relevant departments. After approval, they can use part of the funds or assets. Specific measures will be formulated separately.

Chapter 4 Anti-Money Laundering Investigation

Article 39: The anti-money laundering administrative department of the State Council or its districted city-level or above dispatched agencies discover suspected money laundering, If suspicious transaction activities for terrorist financing or other violations of this law require investigation and verification, financial institutions and specific non-financial institutions or other relevant units and individuals may be investigated. Units and individuals under investigation shall cooperate and provide truthful information. Relevant information and materials:

(1) Reported by financial institutions and specific non-financial institutions in accordance with regulations;

(2) Performing anti-money laundering duties or discovered through fund monitoring;

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(3) After the relevant authorities have filed the case, they request assistance in investigating suspected money laundering and terrorist financing transaction information in accordance with the law;

(4) Obtained through international cooperation channels;

When the anti-money laundering administrative department investigates a specific non-financial institution, if necessary, it will request the relevant specific non-financial institution competent authority to assist in the investigation.

Article 40 An anti-money laundering investigation shall be carried out in accordance with the prescribed procedures and must be approved by the anti-money laundering administrative department of the State Council or the person in charge of its districted city level or above, and an investigation notice shall be issued and the investigation shall be accepted. Units and individuals shall truthfully provide relevant information and materials within the prescribed time limit.

Article 41 When conducting an anti-money laundering investigation, relevant units or individuals may be asked to explain the situation.

Inquiries should produce inquiry transcripts. The transcript of the inquiry shall be handed over to the person being questioned for verification. If there are omissions or errors in the records, the person being questioned may request supplements or corrections. After the person being questioned confirms that the transcript is correct, he or she shall sign or seal it; the investigator shall also sign the transcript.

Article 42 If on-site verification is required during the investigation, the account information, transaction records and other relevant materials of the subject under investigation can be reviewed and copied; audio and video recordings can be made; any information that may have been transferred, hidden, tampered with or Damaged documents and information can be sealed.

Investigators who seal up documents and information should work with the staff of financial institutions or specific non-financial institutions present to make a clear check, and prepare a list in duplicate on the spot. It should be signed or stamped by the staff of the institution, one copy should be submitted to the financial institution or specific non-financial institution, and one copy should be attached to the file for future reference.

Article 43: When questioning and on-site investigating suspicious transaction activities, the number of investigators shall be no less than two, and they must present legal certificates and information from the anti-money laundering administrative department of the State Council or its districted city level or above. Investigation notice issued by the agency. If there are less than two investigators or if legal documents and investigation notices are not produced, units and individuals have the right to refuse to accept the investigation.

Article 44: If the suspicion of money laundering and related crimes cannot be ruled out after investigation, or if funds monitoring is considered to be suspected of a crime, it shall be transferred to the authority with jurisdiction in a timely manner; the receiving department shall comply with the law and relevant regulations. Provide timely feedback on processing results.

If the suspicion of money laundering or terrorist financing cannot be ruled out after investigation, and the customer requests further transfer of the account funds involved in the investigation, in addition to transferring it to the authority with jurisdiction, the anti-money laundering administrative department of the State Council will be responsible. With the approval of the people concerned, temporary freezing measures can also be taken.

After receiving clues, the relevant authorities shall promptly decide whether to continue to freeze the funds that have been temporarily frozen in accordance with the provisions of the preceding paragraph. If the relevant authorities believe that it is necessary to continue freezing, they shall take freezing measures in accordance with the provisions of the Criminal Procedure Law of the People's Republic of China, the State Supervision Law of the People's Republic of China, etc.; if they believe that there is no need to continue freezing, they shall notify them immediately The anti-money laundering administrative department of the State Council shall immediately notify financial institutions to lift the freeze.

Temporary freezing shall not exceed forty-eight hours. If a financial institution does not receive a notice from relevant authorities to continue freezing within 48 hours after taking temporary freezing measures in accordance with the requirements of the anti-money laundering administrative department of the State Council, it shall immediately lift the freeze.

Chapter 5 International Cooperation in Anti-Money Laundering

Article 45 The People’s Republic of China shall carry out anti-money laundering in accordance with the international treaties it has concluded or participated in, or in accordance with the principles of equality and reciprocity. international cooperation.

Article 46: The anti-money laundering administrative department of the State Council, authorized by the State Council, is responsible for organizing and coordinating international cooperation on anti-money laundering, participating in relevant international organization activities on behalf of the Chinese government, and carrying out anti-money laundering cooperation with relevant overseas institutions in accordance with the law. Exchange anti-money laundering information.

The National Supervisory Commission and relevant departments and agencies of the State Council carry out international cooperation in anti-money laundering within the scope of their duties.

Article 47 Judicial assistance involving the investigation of money laundering crimes shall be handled by the relevant competent authorities in accordance with the provisions of relevant laws.

Article 48 In accordance with the principle of reciprocity or after consultation with relevant countries, relevant agencies and departments may require the establishment of an agency bank in China during the process of investigating money laundering and terrorist financing activities in accordance with the law. Accounts or other overseas financial institutions that have close financial ties with China will cooperate.

Article 49: Foreign authorities do not follow the principle of reciprocity or reach an agreement with China, but directly require financial institutions in China to submit information within China or seize, freeze, or transfer property within China, or If financial institutions in China are required to take other actions based on improper application of foreign laws, financial institutions shall not comply. If a financial institution deems it necessary to comply, it shall promptly submit it to the relevant financial regulatory agency of the State Council for approval and notify the foreign authorities to negotiate with the relevant financial regulatory agency of the State Council.

If foreign authorities require domestic financial institutions in China to submit summary compliance information, operating information or make other reasonable requests based on reasonable regulatory needs, domestic financial institutions in China may take appropriate actions in accordance with the requirements, but they must do so in advance. Report to the relevant financial regulatory agency of the State Council. For matters that may affect China's national sovereignty, security and interests or the interests of citizens, legal persons or other organizations, prior approval must be obtained from the relevant financial regulatory agency of the State Council.

If the state has other provisions for blocking the inappropriate extraterritorial application of foreign laws and measures, those provisions shall prevail.

Chapter 6 Legal Responsibilities

Article 50 The personnel engaged in anti-money laundering work in the anti-money laundering administrative departments and other departments and institutions legally responsible for the supervision and management of anti-money laundering are as follows: Anyone who commits any of the following acts shall be punished in accordance with the law:

(1) Violating regulations to conduct inspections, investigations or taking temporary freezing measures;

(2) Leaking information about anti-money laundering State secrets, business secrets or personal privacy;

(3) Violating regulations and imposing administrative penalties on relevant institutions and personnel;

(4) Other acts of failing to perform duties in accordance with the law.

Article 51 If a financial institution commits any of the following acts, the anti-money laundering administrative department of the State Council or its dispatched office at or above the city level shall order it to make corrections within a time limit; if the circumstances are serious or it fails to make corrections within the time limit , give a warning, and impose a fine of not less than 200,000 yuan but not more than 2 million yuan based on the scale of business, potential harm, etc., and, depending on the circumstances, restrict or prohibit it from carrying out relevant business within the scope of its duties or notify the relevant financial regulatory agency of the State Council: < /p>

(1) Failure to establish and improve the internal control system for anti-money laundering;

(2) Failure to effectively implement the internal control system for anti-money laundering;

(3) Failure to Establishing a special anti-money laundering agency or designating an internal agency to be responsible for anti-money laundering work;

(4) Failure to allocate corresponding human resources according to the business scale and money laundering risk status;

(5) Failure to assess the risk situation and formulate appropriate risk management measures;

(6) There are institutional flaws in anti-money laundering-related systems;

(7) Failure to effectively conduct internal audits or Independent audit, supervision and inspection of the effective implementation of the anti-money laundering internal control system;

(8) Failure to effectively carry out anti-money laundering training;

(9) Failure of other anti-money laundering internal control mechanisms sound situation.

Article 52 If a financial institution commits any of the following acts, the anti-money laundering administrative department of the State Council or its dispatched office at or above the city level shall order it to make corrections within a time limit; if the circumstances are serious or if it fails to make corrections within the time limit, , give a warning and impose a fine of not less than 200,000 yuan but not more than 2 million yuan; if there is any illegal income, the illegal income will be confiscated:

(1) Failure to conduct customer due diligence in accordance with regulations;

(2) Failure to preserve customer identity information and transaction records in accordance with regulations;

(3) Failure to report large transactions in accordance with regulations;

(4) Failure to comply with regulations Report suspicious transactions.

Article 53 If a financial institution commits any of the following acts, the anti-money laundering administrative department of the State Council or its dispatched office at or above the city level shall impose a fine of not less than RMB 20,000 and RMB 200,000 on a case-by-case basis The following fines shall be imposed; if the circumstances are serious, a fine of not less than 200,000 yuan but not more than 2 million yuan shall be imposed on each case; if there are any illegal gains, the illegal gains shall be confiscated:

(1) Transactions with unidentified customers or for Customers open anonymous accounts or pseudonymous accounts;

(2) Failure to take corresponding risk management measures for high-risk situations in accordance with regulations;

(3) Failure to implement anti-money laundering in accordance with regulations Special preventive measures;

(4) Violating confidentiality regulations, inquiring or leaking relevant information;

(5) Rejecting or obstructing anti-money laundering supervision or investigation, or providing false materials .

Article 54 If a financial institution violates the provisions of this Law, causing criminal proceeds and proceeds to be concealed or concealed through the institution, or causing the consequences of terrorist financing, the anti-money laundering administrative department of the State Council shall Or the local dispatched office at or above the level of a districted city shall, in accordance with the principle of whichever is higher, impose a fine of not less than 2 million yuan but not more than 10 million yuan, or not less than 5% but not more than 10% of the amount of cover-up or concealment, if there are illegal gains. , confiscate illegal gains; if the circumstances are particularly serious, the anti-money laundering administrative department may take or recommend the relevant financial regulatory agencies to order it to suspend business for rectification or revoke its business license.

If the illegal acts specified in the preceding paragraph are not discovered within five years, no administrative penalties will be imposed.

Article 55: If a financial institution violates the provisions of this Law, the anti-money laundering administrative department of the State Council or its dispatched office at or above the city level shall, according to the circumstances, punish the responsible directors, supervisors, and senior managers. Personnel or other persons directly responsible shall be given a warning or a fine of not less than RMB 20,000 but not more than RMB 200,000, or both, and any illegal gains shall be confiscated; if the circumstances are serious, relevant financial supervision and management measures shall be taken or recommended as appropriate. The institution shall revoke his qualifications and prohibit him from engaging in relevant financial industry work in accordance with the law.

A fine of not less than RMB 200,000 and RMB 1,000,000 shall be imposed on directors, supervisors, senior managers or other persons directly responsible for financial institutions that fall under the circumstances specified in Article 54 of this Law. The following fines will be imposed, and if there are any illegal gains, the illegal gains will be confiscated; depending on the circumstances, the relevant financial regulatory agencies will take measures or recommend that the relevant financial regulatory agencies cancel their qualifications and prohibit them from engaging in relevant financial industry work.

Article 56: Financial institutions violate the provisions of Article 49 of this Law and take actions without reporting or submitting approval