| Singapore’s regulator will take “firm regulatory actions” against UBS, Standard Chartered and DBS bank for serious failings in anti-money laundering controls relating to flows of cash linked to Malaysia’s state investment fund 1MDB.
The Monetary Authority of Singapore said in a statement on Thursday that inspections had found instances of control failings in all three banks. In some cases there were weaknesses in the process for accepting clients and monitoring transactions..............................................Full Article: Source
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