Skip to main content

Featured

Regulatory Warnings Ignored: Canadian Arm of China's Largest Bank Faces Scrutiny

The Canadian subsidiary of the Industrial and Commercial Bank of China (ICBC), the world's largest bank, has come under fire for repeatedly violating anti-money laundering regulations. Despite multiple warnings from Canada's financial intelligence unit, FINTRAC, the bank failed to address critical compliance issues. These included neglecting to file suspicious transaction reports and not treating high-risk activities with the required level of scrutiny. A routine audit in 2019 revealed several administrative violations, leading to a fine of $701,250 issued in 2021. The violations highlight systemic lapses in the bank's financial crime compliance controls, raising concerns about its commitment to combating money laundering and terrorist financing. The case underscores the importance of robust regulatory oversight and the need for financial institutions to prioritize compliance to maintain the integrity of the financial system.
Post a Comment
Read more

article

Labels

Shrimp Orzo with Feta


  • Ingredients:

    • Orzo pasta
    • Olive oil
    • Garlic
    • Tomatoes
    • Lemon juice
    • Shrimp
    • Cilantro
    • Pepper
    • Feta cheese

  • Instructions:

    1. Cook orzo as per package directions.
    2. In a skillet, heat oil and cook garlic for 1 minute.
    3. Add tomatoes and lemon juice, bring to a boil.
    4. Add shrimp and simmer until pink (4-5 minutes).
    5. Drain orzo and mix with shrimp, cilantro, and pepper.
    6. Heat through and sprinkle with feta cheese.
Labels:

Comments

Post a Comment