EN
EN
ZH
RCN LOGO 2021 - OFFICIAL LOGO.png
  • Contact

  • Advisory

  • Support Services

  • Team Training

  • Corporate Programs

  • Membership

  • More...

    1. Expeditions
    2. RCN Payments
    3. China & USA: close cooperation across business systems for Anti-Money Laundering
    Search
    Glyn MacLean
    Dash  ·  
    Nov 8, 2019
      ·  Edited: Nov 8, 2019

    China & USA: close cooperation across business systems for Anti-Money Laundering


    CNY-USD | AML and KYC

    Payments processing.


    We are being told that USA and China are in a trade war, but in reality, there is a fundamentally close cooperation between the infrastructure networks, which operate in one accord.


    In fact, our USA-China payments processor, works strictly in accordance with USA law and vice versa. I am very happy to see this inter-connectivity at play between USA and China.


    Highlights from our training for on-boarding

    USA businesses into Chinese

    payments platform:


    Notable is that the global standardisation and systematisation of Anti-Money Laundering and Know Your Customer Rules, the connectivity of money laundering crime databases, which are immediately accessible to the payments processor during an application process.


    This means that criminals will not be able to take a back door to access a means of money laundering, which protects all of us from recurring, organised crime.


    Logically, if there is no way to spend the proceeds of crime, there is much less incentive to steal in the first place.


    We love China and USA cooperation across AML and KYC rules, because this protects you, your business, your family and your friends.

    0