Confidential ICBC records point to years of governance problems overseas

ICIJ reports that ICBC executives knew for years about governance problems and suspected misconduct across the bank’s overseas operations. Records from its London offices describe suspected employee bribery and gifts to government officials without prior compliance approval. ICBC also promoted executive Zhang Hongli after Deutsche Bank accused him in a 2014 civil claim of improperly transferring $3.9 million; a Chinese court later convicted him of taking more than $24 million in bribes.