Three FIs receive record fines from PBoC for AML violations

19 February 2020 | 2 minutes read

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…

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