- The Bank of China engaged in money laundering and in helping clients skirt controls on cross-border fund transfers, according to a 20-minute report airing on China Central Television.
- One of Beijing's more powerful propaganda arms CCTV is often critical of both domestic and foreign firms. but it's rare for it to hone in on state-owned businesses, of which Bank of China is. The move coincides with a party crackdown on corruption, with particular focus on officials trying to move illegally obtained assets overseas.
- Earlier this week, the NAR said Chinese customers led the way in a big jump in foreign purchases of U.S. real estate in 2013, buying $22B worth - about 24% of all foreign sales and 16% of total real estate sales.
China state-controlled TV accuses state-controlled bank of money laundering
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