CHINA has joined the ranks of major global players in the global fight against money laundering and other forms of corruption.
Following a successful campaign to clamp down on money laundering, China has set its sights on its own financial industry.
The Chinese government has introduced several measures to crack down on the corruption of the financial sector and to fight money laundering.
The measures include tightening up on foreign currency exchanges and the imposition of capital controls to limit access to the country’s banks and financial institutions.
The crackdown has also targeted the global financial system, with several measures taken by China to stem the flow of money from abroad.
The country’s top financial regulator, the State Administration of Foreign Exchange (SAFE), has been cracking down on currency manipulation and other illegal activity involving the financial industry in China.
The government has also banned foreign banks from accepting foreign currency for investment, and a new crackdown on offshore financial institutions has resulted in the confiscation of about $20 billion of foreign assets by Chinese authorities.
Other countries that have adopted measures against money-laundering include the United Kingdom, Canada, Australia, and New Zealand.
The United States, China’s neighbor and biggest trading partner, has also adopted a series of measures in response to the growing international attention on money-related corruption.
In July, the U.S. Department of the Treasury announced the issuance of an “anti-money laundering directive,” which included a list of restrictions that apply to U.K. banks, including restrictions on their ability to accept any kind of capital, and restrictions on the use of U.M.
S Bank and others.
In September, Canada enacted legislation that aims to crack the international money laundering industry by targeting financial institutions that have failed to comply with financial regulatory requirements and other measures, such as reporting information to authorities.
The U.N. Security Council recently passed a resolution that urged all countries to combat the money laundering crisis and prevent the proliferation of criminal financial institutions worldwide.
Ns resolution has been signed by over 70 countries, including the U of S and the U States, and is the first ever global effort to tackle money laundering with sanctions.