2026/09: Chinese banking giant serves firms linked to oligarchs

As part of China Capital, ICIJ found that at times the bank’s Beijing headquarters directed bank officers overseas to pursue explicitly political objectives for its majority shareholder, the Chinese state — to cement alliances, acquire natural resources and expand control over communications, energy and transportation infrastructure around the world. While doing so, ICBC breached some of its own anti-money laundering and sanctions policies, the investigation found.