Singapore Fines Banks and Firms $21.5M Over Major Money Laundering Failures
Singapore’s Monetary Authority (MAS) has finalized its enforcement actions related to one of the most extensive money laundering scandals in the city-state’s history, handing out a combined SG$27.45 million (US$21.5 million) in fines to nine financial institutions. The announcement, made on July 4, comes after a multi-year investigation into financial failings linked to a SG$3 billion laundering operation involving foreign nationals tied […]
Singapore’s Monetary Authority (MAS) has finalized its enforcement actions related to one of the most extensive money laundering scandals in the city-state’s history, handing out a combined SG$27.45 million (US$21.5 million) in fines to nine financial institutions. The announcement, made on July 4, comes after a multi-year investigation into financial failings linked to a SG$3 billion laundering operation involving foreign nationals tied […]
