The People’s Bank of China has fined three financial institutions a total of over RMB 10 million (US$1.4 million), citing their failures to comply with anti-money laundering regulations. The news was originally reported by Caixin Global on Monday. A statement published on PBoC’s website last Friday showed that China Minsheng Banking Corp. and China Everbright Bank Co. Ltd. had been…
Three FIs receive record fines from PBoC for AML violations
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