London Watching: Two Chinese Banks 'Come under Closer Scrutiny in Britain'

(Beijing) – The operations of two Chinese banks in London will come under more scrutiny from British regulators, people close to executives at the financial institutions say.

The Financial Conduct Authority, Britain's financial watchdog, plans to step up checks of risks related to financial crime, especially breaches of money-laundering rules, at the London branches of Industrial and Commercial Bank of China (ICBC) and China Construction Bank (CCB), the sources said.