The anti-money laundering "sword" special operation has achieved phased results

Recently, the first Hunan Provincial Financial Intelligence Clue Research and Judgment Contest held by the Changsha Central Branch of the People's Bank of China came to an end, marking the achievement of the phased results of the province's anti-money laundering "sword" special action in the financial sector.

Since 2021, the Changsha Central Branch of the People's Bank of China has launched the "sword" special action against money laundering in the financial sector of Hunan Province, guiding financial institutions to focus on "tracking funds", taking multiple measures to enhance the intelligence value of suspicious transaction clues, multi-departmental linkage to improve the case conversion rate of clues, and giving full play to the important role of anti-money laundering in supporting national special actions and preventing major risks. A total of 84 clues were filed and investigated throughout the year, which was 2.3 times that of 2020, and the case filing rate was 24%, an increase of 12 percentage points year-on-year, which greatly supported the province's special action to combat various crimes.

In order to summarize the results of the "Sword" special action, exchange experience in clue research and judgment, and demonstrate the professional skills of the research and judgment team of financial institutions, the Changsha Central Branch of the People's Bank of China held the first provincial financial intelligence clue research and judgment competition. In order to fully mobilize the initiative of financial institutions, the central branch issued the "Hunan Provincial Key Suspicious Transaction Report Quality Evaluation Measures"; combined with the results of the analysis of money laundering types, for the first time, carried out a key suspicious transaction report briefing to analyze and evaluate the province's financial intelligence clues; issued suspicious transaction identification points in different industries, carried out special training many times, taught suspicious transaction report analysis skills and practical experience, and improved the ability of financial institutions to identify and analyze suspicious clues.

The financial intelligence clue research and judgment competition is divided into three stages: clue selection, qualification selection, and on-site finals. The Changsha Central Branch of the People's Bank of China scored hundreds of key suspicious clues received by the People's Bank of China in 2021, and finally decided that 12 representative teams participated in the on-site finals, and displayed the whole process of the analysis team's screening and investigation of real cases such as tax-related, public-related, drug-related, black-related, gambling-related, fraudulent, and underground money banks in the form of PPT, video demonstration, and reading explanations. 12 judges from the member units of the Hunan Provincial Anti-Money Laundering Work Inter-departmental Joint Conference scored the competition works on the spot. Through the competition, the anti-money laundering talent team of financial institutions in the province has been further tempered, the level of screening and monitoring of suspicious transactions by financial institutions has been improved, the "sword" action has been transformed from a special action to a normal work, and the anti-money laundering work of the province's financial system has been promoted to a new level.

【Source: Financial Times】