China’s AgBank Fined $215 Million for Hiding Transactions

Updated on
  • Bank obscured Russian, Mideast clients’ details, New York says
  • Managers tried to silence whistleblower, according to DFS

A pedestrian walks past a branch of the Agricultural Bank of China Ltd. in Beijing, China.

Photographer: Nelson Ching/Bloomberg

China’s third-largest lender tried to obscure the trail of dollar transactions by Russian, Chinese and Middle Eastern clients and attempted to silence a compliance officer who raised alarms about it, according to New York’s banking regulator.

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