Chinese bank accused of money laundering in Australia

The China state broadcaster CCTV launched an attack on the Bank of China, one of the country’s most powerful government-controlled financial institutions, accusing it of money laundering in Australia and other countries, The Australian reported.

Australia’s Significant Investor Visa program brings it at the centre of the allegations. The program offers a fast-tracked pathway for wealthy investors to gain permanent residency in Australia if they invest $5 million in Australian bonds, funds or a small business.

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