Anti-Money Laundering and Counter-Terrorism Financing Plans State Bank

Anti-Money Laundering and Counter-Terrorism Financing Plans: Notice on Strengthening Counter Money Laundering issued by Great China State Bank

Money Laundering Scheme: Counter-Terrorism Financing

Money Laundering Scheme: Counter-Terrorism Financing

No. 39 [2010] by GCSB / Great China State Bank

All Tier-One Branches and Branches Directly Controlled by GCSB:

In order to implement relative requirements of Great China State Bank (hereinafter referred to as GCSB), successfully strengthen counter money laundering, consolidate anti-money laundering and counter-terrorism financing, ensure proper development of all businesses and set up good credit standing and social image, the further reinforcement of counter money laundering is notified as following:

1. To Earnestly Enhance the Consciousness and Know-how of Counter Money Laundering

With the development of economic globalization, money laundering is becoming serious and harmful, which has been greatly concerned in international society. In order to safeguard finance, the governments of all countries have successively taken measures to attack and control money laundering. The concerned departments of our government and the People’s Bank of China are studying and formulating measures of counter money laundering. People’s Bank of China reissued the measures and experience of counter money laundering last year. GCSB is the largest commercial bank, with extensive businesses and many branches, so it is not only an important work but also an obligation to strengthen the counter money laundering and prevent and attack the counter money laundering together with relevant departments and juridical authorities. From the aspects of safeguarding national financial safety, attacking crimes and ensuring the sound development of banking businesses, all levels of banks, especially the leaders of them, should recognize the social harmfulness of money laundering and be fully aware of the significance of counter money laundering. It is also a must to practically regard and strengthen the counter money laundering; and use the experience of People’s Bank of China on counter money laundering for reference and reinforce educational trainings, especially reinforce the training to personnel at key areas, institutions and posts, so as to take the policies, laws, regulations and requirements of the counter money laundering as important contents of trainings to the personnel in Individual Finance Department, Accounting & Settlement, Credit Card Department, International Businesses Department and RMB Treasury Department, set up the consciousness of countering money laundering pursuant to laws, and increase the knowledge and experience of the counter money laundering. Besides, at the same time when the relation between the counter money laundering and bank management is dealt with and the sound development of business operations is safeguarded, all levels of banks should not only well treat with the counter money laundering, but also fulfill all obligations, such as keeping secrets for customers, pursuant to laws.

2. To Establish Institutions on Counter Money Laundering

In order to strengthen the leadership of counter money laundering, and attack and prevent this crime, the head office of GCSB decides to establish the leading group of counter money laundering, chaired by GCSB’s deputy chairmen Zhang Furong with Wang Lili as the deputy Chairman, which is composed of the managers or deputy managers the General Administration Department, Legal Counsel Department, RMB Treasury Department, Individual Finance Business Department, Credit Card Department, Accounting & Settlement Department, International Business Department, Auditing & Supervisory Department, Education Department and Discipline Enforcement Department, with its general office set up in the legal business department. All banks should also establish the institutions of counter money laundering participated by corresponding departments and define respective duties. When emergencies or difficult problems on the counter money laundering arise, all banks should report to the leading group of counter money laundering of GCSB Head Office.

3. To Strengthen the Construction of Interior Management, and Formulate and Perfect Rules and Regulations

According to the laws and regulations and supervising requirements about counter money laundering of our country, such departments as Individual Finance Department, Accounting & Settlement Department, Credit Card Department, International Business Department and RMB Treasury Department, should study and advance preventing measures of counter money laundering in relevant businesses, for example, supervising abnormal financial activities and reporting system, and quickly complete and improve current operational regulations, effectively enhance the construction of every interior mechanism, get rid of flaws, intensify management and prevent money laundering activities; actively cooperate the supervision and inspection of People’s Bank and management department of foreign currency, assist the relevant departments of government and juridical organs pursuant to laws to effectively develop the task of investigation, inquiry, blocking freezing, deducting and allocating of counter money laundering.

4 To Strengthen the Counter Money Laundering of Overseas Branches

All overseas branches, which are situated in the front of counter money laundering and confronted with strict legal supervising environment of counter money laundering, should strengthen the consciousness of counter money laundering, abide by laws and regulations in host countries and requirements of supervising departments on counter money laundering, improve communication with supervising departments, actively assist local supervising departments to guard against crimes of money laundering. Meanwhile, on the basis of earnest understanding of the laws and regulations on counter money laundering, supervising requirements and systems on counter money laundering of local banks in host countries, all the overseas branches should advance the measures to strengthen counter money laundering and report to the Head Office, and offer reliable basis for the Head Office on studying and formulating basic principles of counter money laundering of overseas branches. Document of Great China State Bank

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