Bank focuses more on compliance risk control

Bank of China said on Monday it is placing greater focus on and devoting more resources to manage compliance risks and meet anti-money laundering rules in other countries, as it expands globally to serve Chinese companies and local clients.

Bank of China's initiative follows similar moves made by the other big mainland commercial banks.

The country's fourth biggest commercial lender, with the widest overseas network among its domestic peers, said it had set up a risk policy committee under its board of directors - in addition to a committee of risk management and internal control and an anti-money laundering committee under the management team.