BOC denies transferring terrorist funds

Bank of China (BOC) has denied accusations made in a US lawsuit that it helped transfer
millions of dollars to terrorist groups in the Middle East, AP reported. The lawsuit was
filed in Los Angeles by victims of terrorism in Israel, including the family of a 4-year-old
boy killed in 2004. BOC called the accusations groundless. The lawsuit said the bank
used wire transfers to send millions of dollars to Hamas and Islamic Jihad to finance
attacks between 2004 and last year. It also said Israeli officials met with Chinese police
and bank officials in 2005 but failed to get them to stop the money transfers. The suit said
money from the Middle East was sent to BOC branches in the US, then to a bank branch
in Guangzhou before being wired to terrorists in Israel, the West Bank and Gaza Strip.
The bank said it abides by UN regulations against money laundering and also has internal
rules that prohibit giving financial services to terrorist groups.