26.07.2016 - Singapore to further boost money laundering controls amid 1MDB-linked probe
Singapore's central bank said it will enhance controls against money laundering and take swift action against banks following damaging findings that financial institutions in the city-state handled money flows linked to Malaysian state fund 1MDB. "There is no doubt that the recent findings have made a dent in our reputation as a clean and trusted financial centre," Ravi Menon, managing director of the Monetary Authority of Singapore, said at its annual news conference on Monday. "MAS is determined to fix the problem, working together with the industry."..............................................Full Article: Source
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