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NEWS: China set to overhaul its AML laws, focus on data privacy

Chinese officials and delegates attend the closing session of the National People's Congress (NPC) at the Great Hall of the People in Beijing, China March 11, 2024. REUTERS/Florence Lo/File Photo

BY PAUL O’DONOGHUE, Senior Correspondent

China is considering major updates to its AML laws, which could include changing how financial instiutions deal with data privacy.

The Standing Committee of the National People’s Congress will review a draft revision of the country’s Anti-Money Laundering Law next week, Huang Haihua, spokesperson for the Legislative Affairs Commission, told reporters.

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