China expected to join FATF

China will soon become a full member of the Financial Action Task on Money Laundering (FATF), state media reported. The president of FATF, Jean-Louis Fort, said Wednesday that China is between the second and third stage of becoming a full member of FATF. An inter-governmental regulator, FATF sets policies to combat money laundering and terrorist financing. China and India are expected to become full members of FATF because of their geographic significance, Fort said.