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Canada fined Chinese bank for ‘allowing terror financing’
The state-controlled ICBC was fined $701,250 last year under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act. New Delhi: China’s biggest state-controlled bank, the Industrial and Commercial Bank of China (ICBC), has been imposed a fine of Rs 4 core by Canadian regulators for failing to inform the latter about suspicious transactions related to money laundering or terrorist...
