Wednesday, August 27, 2008

Bank of China Under Heavy Money Laundering Allegations in US Court reports that a lawsuit filed in the US tying the Bank of China to funding terrorist organizations are “are purely nonsense and without foundation," bank spokesman Wang Zhaowen mentions.

A lawsuit filed in the Los Angeles Supreme Court alleges that the bank transferred millions of dollars to Hamas and Palestinian Islamic Jihad in Syria and Iran. Wang Zhaowen also says, "Bank of China has always strictly been in compliance with the United Nations rules against money-laundering and terrorist financing. The bank has consistently adhered to the regulatory requirements in China and other jurisdictions.”

The Bank of China ultimately believes that the US Court will issue a fair ruling based on facts.

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