In 2020, the People’s Bank of China (PBOC) closely followed the priorities of the CPC Central Committee and the State Council, conscientiously implemented the major work arrangements of the CPC Central Committee, and gave full play to the significant role of anti-money laundering (AML) work in safeguarding financial security, improving national governance, and promoting two-way opening up. Its AML investigation and assistance work delivered remarkable results. The PBOC, in collaboration with supervisory commissions, courts, procuratorates, public security, customs, taxation, and other departments, vigorously cracked down on various money laundering crimes and their upstream crimes in accordance with the laws. Substantial progress has been made in areas such as combating organized crimes and rooting out local criminal gangs, counter-terrorism, anti-corruption, anti-drugs, anti-tax evasion, and crackdown on underground banking. Its assistance led to a substantial increase in the detection of suspected money laundering cases, as evidenced by over a doubled year-on-year growth in the number of cases sentenced under Article 191 of the Criminal Law, which pertains to money laundering crimes. These efforts effectively forestalled and defused financial risks and safeguarded national security.
In 2020, PBOC branches received over 16,000 key suspicious transaction clues. After screening, more than 800 of these clues that required thorough investigation were subjected to over 7,800 AML probes, and over 5,900 clues were forwarded to investigation and supervision authorities. The branches assisted investigation and supervision authorities in conducting over 35,900 AML probes into more than 3,300 cases and cracking over 700 suspected money laundering cases.
