Bank of China vows strict controls after scandal – Reuters

From Reuters:

Bank of China, planning an $8 billion share sale, said on Monday it had learned from its mistakes and would tighten internal controls, after former staff were charged in the United States with a scheme to defraud the bank of nearly half a billion dollars over 13 years.

The lender, one of China’s four big state-owned banks, said it would strengthen its internal risk controls ahead of its initial public offering, now expected to be delayed to the second half of this year.