Legal basis: Anti-Money Laundering Law of People's Republic of China (PRC).
Article 10 The administrative department in charge of anti-money laundering in the State Council shall organize and coordinate the national anti-money laundering work, be responsible for the monitoring of anti-money laundering funds, and formulate or cooperate with the relevant financial supervision and management institutions and the competent departments of specific non-financial institutions in the State Council to formulate anti-money laundering regulations for financial institutions and specific non-financial institutions. Supervise and inspect the performance of financial institutions and specific non-financial institutions in their anti-money laundering obligations, investigate suspicious transactions within their scope of duties, and perform other anti-money laundering related duties stipulated by laws and the State Council.
The dispatched office 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 supervision and management institutions in the State Council participate in the formulation of anti-money laundering rules and regulations of the financial institutions under their supervision, put forward requirements for the establishment and improvement of anti-money laundering internal control systems of the financial institutions under their supervision, supervise and inspect the establishment and improvement of anti-money laundering internal control systems of the financial institutions under their supervision, and implement the anti-money laundering review requirements for market access. Handle anti-money laundering supervision opinions and suggestions put forward by the State Council anti-money laundering administrative department according to law, and perform other anti-money laundering related duties stipulated by law and the State Council.
If the relevant financial supervision and management institutions find that financial institutions violate anti-money laundering laws and regulations during prudent supervision, they shall put forward supervision opinions and suggestions to the anti-money laundering administrative department according to law.
Article 12 The competent departments of specific non-financial institutions in the State Council formulate or participate in the formulation of anti-money laundering regulations of specific non-financial institutions under supervision, supervise and inspect the performance of anti-money laundering obligations of specific non-financial institutions under supervision, handle the anti-money laundering supervision opinions and suggestions put forward by the anti-money laundering administrative departments in the State Council according to law, and perform other anti-money laundering related duties stipulated by laws and the State Council.