Odaily Planet Daily News: The draft revision of the Anti-Money Laundering Law was submitted to the Standing Committee of the 14th National People's Congress for initial deliberation on April 23. The draft revision consists of 7 chapters and 62 articles, which stipulate that the anti-money laundering administrative department of the State Council shall establish an anti-money laundering monitoring and analysis agency to conduct anti-money laundering fund monitoring, and be responsible for accepting and analyzing large-value transactions and suspicious transaction reports. In terms of improving the anti-money laundering obligations, the draft revision stipulates that the anti-money laundering obligations of financial institutions mainly include: establishing and improving the anti-money laundering internal control system and effectively implementing it; conducting customer due diligence to understand the customer's identity, transaction background and risk status; preserving customer identity information and transaction records; and effectively implementing the large-value transaction reporting system and the suspicious transaction reporting system. In addition, the draft revision also stipulates that units and individuals shall not engage in money laundering activities or provide convenience for money laundering activities, and shall cooperate with financial institutions and specific non-financial institutions in conducting customer due diligence in accordance with the law. (China News Service)