ABSTRACT
This chapter outlines different stages of history of money laundering activities and regulations around it. The chapter critiques the existing regulations and theories of anti-money laundering. This chapter examines the particular circumstances and progress in implementing anti-money laundering regulations in China, which was informed by the lack of knowledge of recent Chinese money laundering and related measures. The current nature and scope of money laundering, as well as its historical development process, are introduced. By comparing China’s anti-money laundering regulations with the standards set up by FATF, issues have been discovered and discussed regarding prevention and enforcement aspects. This chapter is based on the general anti-money laundering structure provided by Levi and Reuter, and the findings were generated by comparing to international experiences (e.g. FATF) and examples from the works of Reuter and Truman.
