Federal Reserve Orders ICBC to Tighten AML Policies
Posted on 03/16/2018
On March 12, 2018, the U.S. Federal Reserve issued an enforcement action that the Industrial and Commercial Bank of China Limited (ICBC) is not doing enough regarding anti-money laundering (AML) protections and ordered the Chinese bank to toughen its checks on illicit funds. The Federal Reserve’s cease-and-desist order is being addressed as the central bank […]
