Reuters in more than one article on 19th April reported that Spain’s High Court said that it had placed Spanish lender Caixabank under formal investigation on suspicion of money laundering, resulting from its business dealings with China’s ICBC, which the court is already investigating.  It was alleged that Caixabank employees and directors at 10 branches had helped suspected Chinese criminals in Spain transfer €99 million to China and Hong Kong between 2013 and 2015.  Caixabank has denied any collaboration or participation in money laundering activities

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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