ABSTRACT
As the economic globalisation and China's reform and opening up develops, more cross-border money laundering crimes involve China. According to a report issued by the Financial Action Task Force on Money Laundering, an important trend of international money laundering crime is the spread from developed countries to developing countries. China takes measures against money laundering mainly through criminal legislation, preventive legislation and legal practice. By the time the Amendment VII to the Criminal Law of the People's Republic of China was issued, which criminalised concealing ill-gotten money and the gains there from, the criminal legislation against money laundering crimes has gradually developed into a comprehensive system. Cross-border money laundering jeopardises regular judicial activities, undermines financial management and free market competition, brings about instability to international capital operation and the investment market and, as a result, damage the economy at a regional or even international scale.
