China Amends its Anti-Money Laundering Law

On 8 November 2024, the Standing Committee of the National People's Congress adopted the amended Anti-Money Laundering Law (the "Amended AML Law"). It will take effect on 1 January 2025 and replace the existing Anti-Money Laundering Law of 2006 (the "AML Law 2006").

Generally, most of the amendments made under the Amended AML Law do not introduce new regulatory requirements but rather incorporate already implemented administrative regulations and rules issued by the relevant authorities.

However, the Amended AML Law also includes some important changes which CNBW Member CMS summarizes here ... 


CMS China - Law -Tax- Future
https://cms.law/en/chn/office/shanghai