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“Rule‐based but risk‐oriented” approach for combating money laundering in Chinese financial sectors

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  • Lishan Ai

Abstract

Purpose - This paper attempts to examine the practical condition of implementing risk‐based approach (RBA) in Chinese financial sectors. Design/methodology/approach - This paper compares the differences between rule‐based approach and risk‐based approach (RBA), and provides different options to financial institutions considering their own circumstances. Findings - This paper finds that capacity constraint is an issue for directly transplanting the RBA performed by developed countries to Chinese financial institutions. Originality/value - This paper creatively proposes a rule‐based but risk‐oriented AML approach or partial RBA that fits Chinese financial institutions' reality underpinned by Chinese culture, and correspondingly, different assessment methods are presented as well.

Suggested Citation

  • Lishan Ai, 2012. "“Rule‐based but risk‐oriented” approach for combating money laundering in Chinese financial sectors," Journal of Money Laundering Control, Emerald Group Publishing Limited, vol. 15(2), pages 198-209, May.
    • Handle: RePEc:eme:jmlcpp:13685201211218225
    DOI: 10.1108/13685201211218225
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