World’s Largest Bank (ICBC) To Pay $32,400,000 for Violating Bank Secrecy Act, Backdating Documents and Exposing Confidential Information
World’s Largest Bank (ICBC) To Pay $32,400,000 for Violating Bank Secrecy Act, Backdating Documents and Exposing Confidential Information
wow the fine is a huge one, hope they can pay it.
I think they can afford it.
That will l good for them.
Punishment for things like this need to fall on the Executives of the Company. Make the CEO pay $10M and the board a couple million each. Then you might have some actual internal policing before they scam the public. Otherwise, nobody cares. They write it off, collect their bonuses, and the stock keeps going up.
That's a great idea. Make those who are involved in the decision-making so they may learn their lessons.
More from DailyHodl.