Draft law revision aims to better protect personal privacy in anti-money laundering

BEIJING, Nov. 1 (Xinhua) — China is considering stepping up the protection of personal privacy in anti-money laundering work, a spokesperson said Friday.
A draft revision to the Anti-Money Laundering Law will be submitted for its third deliberation at a session of the country’s top legislature from next Monday to Friday, Huang Haihua, spokesperson for the Legislative Affairs Commission of the National People’s Congress Standing Committee, told a press conference.
Huang said that the draft revision stipulates that institutions providing anti-money laundering services and their staff should properly handle the data and information obtained during their services in accordance with the law.
The draft revision highlights that anti-money laundering work should ensure the smooth operation of regular financial services and capital flow, and safeguard the legitimate rights and interests of relevant institutions and individuals, according to Huang. ■