Two departments: Accounting firms should establish and improve anti-money laundering internal control systems that are appropriate to the risk profile of the firm.

On May 20, the Ministry of Finance and the central bank released the draft of the "Management Measures for Anti-Money Laundering Work of Accounting Firms (Draft for Comments)". The Measures specify the requirements for anti-money laundering internal control systems, risk assessment, overall requirements for customer due diligence, strengthening customer due diligence measures, special anti-money laundering measures, simplified customer due diligence situations, obligation to report suspicious transactions, obligation to retain information, etc. Among them, it is proposed that accounting firms should establish and improve internal control systems for anti-money laundering that are adapted to the firm's risk situation, including money laundering risk assessment, customer due diligence, reporting of suspicious transactions, special anti-money laundering measures, retention of customer identity information and transaction records, confidentiality of anti-money laundering information, promotion and training, audits and inspections, etc. When conducting customer due diligence, accounting firms can verify the identity documents of natural person clients, business licenses, license documents, beneficial owner information of legal and non-legal entities, etc., in order to identify and verify the identities of clients and beneficial owners, retain copies or photocopies of the above materials, and take reasonable measures to understand the purpose and nature of the business. If the client has an agent, the relationship of agency can also be verified, and the identity of the agent can be identified and verified. Original text: This article was selected from the official website of the Ministry of Finance, GMTEight editor: Li Fo.