China Warned Over Counter-Terrorism, Proliferation Financing Controls

China has come under heavy fire in its latest evaluation by the Financial Action Task Force (FATF), with the world’s second largest economy drawing criticism for its failure to manage terrorist and proliferation financing risk among other shortcomings.

Although the country fell short of a satisfactory rating in a number of areas, being labelled only “partially compliant” in sectors from money laundering offences to regulation of wire transfers, it was found wholly lacking when it came to proliferation financing.

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