China Anti-Money Laundering Monitoring and Analysis Center | |
| Nickname | CAMLMAC |
|---|---|
| Formation | 2004 |
| Founder | People's Bank of China |
| Headquarters | Beijing |
| Location |
|
Region served | China |
| Services | anti-money laundering, finantial intelligence |
Official language | chinese |
| Owner | People's Bank of China |
Parent organization | People's Bank of China |
| Staff | 94 (2015) |
| Website | camlmac |
The China Anti-Money Laundering Monitoring and Analysis Center (CAMLMAC) is a specialized administrative agency under the People's Bank of China (PBoC) that serves as the nation's primary financial intelligence unit. [1] Established in 2004 and headquartered in Beijing, the center was created to centralize the monitoring of large-value and suspicious financial transactions following China's decision to align its domestic regulations with international standards, such as those set by the Financial Action Task Force (FATF). Operating as a core component of the country's anti-money laundering (AML) and counter-terrorist financing (CFT) framework, CAMLMAC acts as a technical hub for data collection, processing millions of reports annually from banks, insurance companies, and other financial institutions. [2] [3]
The legal foundation and operational significance of the China Anti-Money Laundering Monitoring and Analysis Center (CAMLMAC) are defined by the 2006 Anti-Money Laundering Law of the People's Republic of China. Under Article 10 of this legislation, the anti-money laundering administrative authority of the State Council is mandated to establish a specialized information unit dedicated to monitoring financial activities. [4] [5]
In 2015 they signed a Memorandum of Agreement with the US based Financial Crimes Enforcement Network. [6]
