China

The China Anti-Money Laundering Monitoring and Analysis Centre (CAMLMAC) is the national financial intelligence unit (FIU) of the People's Republic of China and operates as an administrative body specialized under the direct mandate of the People's Bank of China (PBOC) [CAMLMAC]. The centre is established as an important part of the economic security system of the country and functions as the technical repository of financial information for the nation [CAMLMAC]. As per legal requirements, CAMLMAC is mandated to monitor and analyse all Large-Value Transaction Reports (LTRs) and Suspicious Transaction Reports (STRs) prepared in banking institutions and other non-financial organizations operating in Mainland China [CAMLMAC]. Although CAMLMAC does not have any independent powers to investigate and prosecute criminal activities, the advanced tracking technology employed by the body is essential in combating illicit financial loops and terrorist financing, along with providing actionable intelligence to the state prosecutors and public security bureau to protect the financial security of the country.

The China Anti-Money Laundering Monitoring and Analysis Center (CAMLMAC) acts as the technical backbone of the financial intelligence system of China by collecting, archiving, and analyzing transaction information. This is because the center collects millions of mandated Large Value Transaction Reports (LVRs) and Suspicious Transaction Reports (STRs) from commercial banks, insurance companies, and designated non-financial business sectors such as real estate dealers and precious metals dealers. By using data analytics technology, CAMLMAC analyzes the information to detect illegal fund movement, identify money laundering circles, and assess new risks to the system. If any suspicious activity or pattern of high risk is discovered, CAMLMAC provides intelligence leads to the People's Bank of China (PBOC), public security offices, and state prosecutors in order to support administrative inspections and criminal investigation processes. In addition, it is responsible for international financial information sharing by being the first point of contact for foreign financial intelligence units (FIUs).