FATF upgrades China on two recommendations

China has been upgraded on targeted financial sanctions related to proliferation and transparency and beneficial ownership of legal persons. China will remain in enhanced follow up and will continue to inform the FATF of progress achieved…

Former anti-corruption chief pleaded guilty to bribery

Anti-corruption chief at Chinese spy agency admits taking US$33 million in bribes. The court said that Liu had received the money in return for business favours, lenient sentences, job promotions and help in obtaining restricted car plates. His corruption trail can be...

China’s banking regulators issue warning against NFTs

Three Chinese banking watchdogs have issued a warning against non-fungible tokens (NFTs). While NFTs are an innovative application of blockchain technology that can enrich the digital economy, they could potentially be used for ML, speculation, illegal financial...