Bank of China pays €3.9m to end French money laundering probe

Bank of China, one of the big four state-owned banks in China, has agreed to pay €3.9m ($4.2m) in a settlement with French tax authorities who had launched a criminal prosecution into the bank. The settlement, reported by Bloomberg, comes following allegations by Paris that Bank of China failed to notify the authorities of millions of euros its clients were transferring from France to its accounts in China.  Remi Heitz, the Paris prosecutor, said that the Chinese bank will pay a €3m fin...