The Daily Delta - Canadian AML & Financial Crime News
September 16, 2026
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International Consortium of Investigative Journalists
ICIJ reports that the Industrial and Commercial Bank of China (ICBC) promoted senior executive Zhang Hongli and expanded internationally despite earlier allegations of misconduct and persistent internal governance concerns. Deutsche Bank had accused Zhang in a 2014 civil claim of improperly transferring US$3.9 million to a relative’s consulting company, yet ICBC later promoted him to executive director; Chinese authorities subsequently investigated him for corruption and a court convicted him of taking more than US$24 million in bribes, imposing a suspended death sentence in 2025. Confidential ICBC records reviewed by ICIJ also describe recurring employee fraud, bribery concerns, suspicious account activity, weak AML controls and failures to supervise overseas staff, including internal findings that some employees deposited large sums of unknown origin for clients and approved suspicious mortgage loans. ICIJ says ICBC’s own internal reviews acknowledged that a robust compliance culture had not been established across parts of its international operations.
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