ICBC, China’s largest state-controlled bank fined in Canada

China 12/28/21, 06:36

Canadian Federal officials have fined the Industrial and Commercial Bank of China (ICBC), the Canadian branch of China’s largest state-controlled bank, $701,250 under the Proceeds of Crime and Terrorist Financing Act. According to the Vancouver Sun, financial institutions are required by law to report all cash transactions of $10,000 or more to ...

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