PBOC verifies Bank of China money-laundering

GMT 21:36 2014 Thursday ,10 July

Arab Today, arab today PBOC verifies Bank of China money-laundering

China's central bank
Beijing - XINHUA

China's central bank is currently verifying media report accusing a state-owned commercial bank of breaching the country's money-laundering rules, a spokesman said Thursday.
"We have noticed the media report about a commercial bank's cross-border renminbi businesses, and are verifying related facts," said the unnamed spokesman of the People's Bank of China.
China Central Television (CCTV), the state TV broadcaster, reported on Wednesday that several domestic branches of Bank of China were suspected of money laundering via its "Youhuitong" service, which enables cross-border transfer of large sums of yuan abroad for clients.

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