The Federal Reserve and New York Department of Financial Services (DFS) just announced a multi million-dollar settlement with a Beijing-based banking giant. The US agencies say the Industrial and Commercial Bank of China (ICBC) will pay a total of $32.4 million for failing to follow the Bank Secrecy Act and Anti-Money Laundering laws, neglecting to … Continue reading World’s Largest Bank To Pay $32,400,000 for Violating Bank Secrecy Act, Backdating Documents and Exposing Confidential Information