Bank of China spokesman Wang Zhaowen Wednesday denied overseas media reports that the bank had provided services for terrorist organizations.

The Associated Press reported on Aug. 22 that more than 100 victims of terrorism in Israel filed a lawsuit against the Bank of China demanding the institution stop transferring money to terrorist groups.

Wang said the accusation was "sheer nonsense".

He said the Bank of China had always conducted business in conformity to the anti-money laundering and anti-terrorist requirements of the United Nations. The bank had always abided by rules set by related industry supervisors and regulators in China and abroad, and its internal anti-money laundering and anti-terrorist policies also ban financial services for terrorist organizations, said Wang.

Wang said the Bank of China would clarify the facts through legal procedures. The bank would reserve rights to file a counter-lawsuit and to adopt any other necessary legal measures, he added. He said the bank believed that the US court would make a just verdict on the case according to law and the facts.

(Xinhua News Agency August 27, 2008)