Bank of Communications' Heihe Branch Warned for AML Compliance Failures

Deep News
03/06

On March 6, the Heihe City branch of the People's Bank of China issued an administrative penalty notice revealing that the Heihe branch of Bank of Communications Co., Ltd. has been warned for violating anti-money laundering regulations. The infractions include failing to conduct renewed customer identification following judicial inquiries, freezes, or deductions, as well as inadequate due diligence regarding frequent, large-value cash withdrawals at counters that exhibited unusual patterns.

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