Money Laundering Bulletin
ICBC (Canada) fined C$701,250 for due diligence and reporting violations
Aninspection of the Industrial and Commercial Bank of China (Canada) by FINTRAC,the Canadian financial intelligence unit,
in 2019, uncovered anti-money launderingcontrol flaws, leading to a fine, on 4 October [2021] (published 23 December2021),
of C$701,250 (US$556,515). [1]