In order to effectively fend off and crack down on crimes of money laundering, to safeguard the national economic and financial security and normal economic order, the Ministerial Joint Conference on AML will, under the leadership of the State Council, be responsible for guiding the national AML work, drawing up the important national AML principles and policies and the policies and measures for international AML cooperation, and coordinating all departments and mobilizing resources of the whole society to carry out AML work.
This is not only as a result of waning demand during periods of lockdown, but also because of shifting consumer behaviour. Heightened consciousness of social distancing and avoidance of physical interaction has thrust fintech further into action, with more people adopting digital financial services.