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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.
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Your daily horoscope: February 15, 2025

 

HOROSCOPES IF TODAY IS YOUR BIRTHDAY

The cosmic powers will never confront you with challenges you are unable to handle and if you keep that fact in mind you will keep going and never give up. Your task for the year ahead is to toughen up and discover your deep inner strength.

ARIES (March 21 - April 20):

Forget about any money worries you may be having and focus your attention on your family and your friends. It’s people who matter most in this life, not dollars and cents, and if you put people first this weekend the material stuff will take care of itself.

TAURUS (April 21 - May 21):

You need to be on the move over the next 48 hours, because it is while you are travelling and meeting people that new ideas will come into your mind and new opportunities to enjoy life will arrive. There is magic in motion.

GEMINI (May 22 - June 21):

Mind planet Mercury may be your ruling planet but that does not mean everything you experience can be explained by logic and rational thinking. The message of the stars this weekend is that you should listen more to the mystical side of your mind.

CANCER (June 22 - July 23):

If you are not much in the mood to be energetic this weekend then why push yourself? This could be one of those occasions when by doing less in the short-term you will accomplish more in the long-term. Give it a try and see.

LEO (July 24 - Aug. 23):

The fact is you need assistance and if you ask for it a flood of offers will come your way. You have done so many good things for other people in the past that they will jump at the opportunity to do something good for you now.

VIRGO (Aug. 24 - Sept. 23):

If you begin a relationship over the next 48 hours it is of the utmost importance that you are honest about what you expect of it right from the start. If you say one thing now but do another thing later on it probably won’t work out.

LIBRA (Sept. 24 - Oct. 23):

Go out of your way to be nice to people this weekend – then the universe will go out of its way to be nice to you. When dealing with colleagues who are angry and aggressive at least try to understand them. They have their story too.

SCORPIO (Oct. 24 - Nov. 22):

You may want to do everything for everyone but even with your immense reserves of energy and enthusiasm that won’t be possible. Decide who would benefit most from your assistance and focus on them first and foremost. One good deed at a time.

SAGITTARIUS (Nov. 23 - Dec. 21):

You may not be emotional by nature but the intensity of your reactions will catch you by surprise this weekend. That’s because you have been storing up your feelings rather than finding ways to let them out. The dam has to burst sometime.

CAPRICORN (Dec. 22 - Jan. 20):

If you make a serious effort to patch up disputes with partners and loved ones over the next 48 hours it won’t be long before you are on the same wavelength and marching toward your No. 1 goal. You’re still on the same team.

AQUARIUS (Jan. 21 - Feb. 19):

The fact that you are finding it hard to make up your mind about something suggests you must give it more time. There is no cosmic reason why you have to make a decision right now, so stop fretting and put it out of your head.

PISCES (Feb. 20 - Mar. 20):

With mind planet Mercury now in your sign and the sun joining it there next week the tide is clearly turning in your favour. Give yourself permission to get out and about and have fun this weekend, knowing that even better times are on their way.

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