The Spanish headquarters of Industrial & Commercial Bank of China (ICBC) in Madrid have been raided by authorities over allegations of money laundering of at least $44.6m in deposits from suspected criminal organisations; five directors have been detained under the orders of the judge investigating. ICBC has denied any wrongdoing. Over 100 police were involved in the operation, which saw the arrest of five ICBC directors, Europol said in a statement on Wednesday. ICBC has said it is abiding by anti-money laundering rules and cooperating with the Spanish probe.
The Spanish headquarters of Industrial & Commercial Bank of China (ICBC) in Madrid have been raided by authorities over allegations of money laundering of at least $44.6m in deposits from suspected criminal organisations; five directors have been detained under the orders of the judge investigating. ICBC has denied any wrongdoing. ICBC has said it is abiding by anti-money laundering rules and cooperating with the Spanish probe.