Due to late start of AML and faced with the complex situation, the current AML in China is still falling short of the requirements and changes of the situation. The deficiencies of AML are mainly as follows. AML laws and regulations are far from perfect, leaving quite a gap from the perspective of the international practices and AML requirements.
The awareness of the importance of AML by financial institutions has yet to be sharpened. The AML internal control system and the reporting system of suspicious funds transactions have yet to be strengthened and improved. AML in non-financial industries has yet to be reinforced either.