Improving the Quality of Regulations Between Anti-money Laundering Reporting Obligations and the Code of Confidentiality for Legal Practitioners in Russia, Mongolia, and China

Purpose: This paper assesses the balance between anti-money laundering reporting obligations and the principle of lawyer-client confidentiality for lawyers in Russia, Mongolia, and China. Methodology: The methodology adopted for this research is secondary research and analysis. Findings: The principle of confidentiality between lawyers and clients and reporting obligations according to the anti-money laundering regime are relevant issues today more than ever. The equitable principle of confidentiality seeks to protect confidential information provided by one party to another in circumstances that import a responsibility not to disclose that information or to use it for unauthorised purposes. The Constitution guarantees a fair trial. Money laundering is a threat that should be upheld in all areas. Self-regulation is the leading bet to apply money laundering for lawyers. Russia, Mongolia, and China—is an eternal neighbourhood. Regarding these cities with these returns and business activities are common. A lawyer in these countries are responsible for constant or regularly storing client’s secrets. But the revised National Legislation on anti-money laundering has changed the duties to keep client’s secrets. Therefore, improving the quality of regulations between anti-money laundering reporting obligations and the code of confidentiality for legal practitioners in Russia, Mongolia and China. Originality/value: This paper is the effort of the author and has not been submitted for publication to some other place. © 2022, The Author(s), under exclusive license to Springer Nature Switzerland AG.