ICIJ Report Reveals ICBC London Branch Bypassed Compliance to Return More Than $1.3 Billion of Huawei's Funds to China After Meng Wanzhou Was Indicted

According to an ICIJ investigation, days after Meng Wanzhou was indicted by the United States in February 2019, ICBC's London branch urgently convened nine employees on a Saturday, bypassing internal compliance procedures to remit more than $1.3 billion in Huawei deposits back to China; compliance officers raised risk warnings, but the Beijing headquarters insisted on proceeding with the transaction.