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Nine Banks Fined Over $21M in Singapore Money Laundering Crackdown

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Source: Financial Times
Nine Banks Fined Over $21M in Singapore Money Laundering Crackdown
Photo: Financial Times
TL;DR Summary

Singapore fined nine banks, including UBS and Citi, a total of $21.5 million for poor anti-money laundering controls related to a $2 billion scandal linked to online gambling, highlighting challenges in maintaining its reputation as a wealth management hub.

Topics:business#citi#finance#money-laundering#regulation#singapore#ubs
Share this article
  1. UBS and Citi among nine banks fined $21.5mn in Singapore money-laundering case  Financial Times
  2. $3b money laundering case: 9 financial institutions handed $27.45m in MAS penalties over breaches  The Straits Times
  3. Singapore hands Credit Suisse, Citi, others $21.5m in penalties  Nikkei Asia
  4. UBS, Citi Among Banks Punished in Singapore Laundering Scandal  Bloomberg
  5. Singapore monetary authority penalizes 9 banks, institutions for 2023 money laundering case  CNBC

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