China Set to Overhaul Anti-Money Laundering Rules, Eyeing Key Changes in Financial Data Privacy
Beijing, China — China is set to consider comprehensive reforms to its anti-money laundering (AML) regulations, a move that indicates growing attention to financial security and data privacy. The review of the proposed updates will be conducted by the Standing Committee of the National People’s Congress, emphasizing the importance the nation places on enhancing its financial regulatory framework. Huang Haihua, spokesperson for the Legislative Affairs Commission, announced that the draft amendments, which entail substantial changes to the current law, will be up for review next week. While specific details of the revisions are still under … Read more