anti-money laundering (AML)

DBS fined by Hong Kong regulator for violating anti-money laundering rules - THE EDGE SINGAPORE

Banking & finance

DBS fined by Hong Kong regulator for violating anti-money laundering rules

The disciplinary action follows an investigation by the Hong Kong Monetary Authority of DBS Hong Kong’s systems and controls.
Briefs: Biden faces mounting pressure; Singapore stocks jump to two-year high; Google’s emissions higher due to AI - THE EDGE SINGAPORE

Global Economy

Briefs: Biden faces mounting pressure; Singapore stocks jump to two-year high; Google’s emissions higher due to AI

In other news, tokenisation, AI and quantum computing are the best prospects for transforming finance, says Ravi Menon.

Anti-money laundering

Six family office funds tied to Singapore launder case got tax breaks

According to DPM Gan, the total value of assets forfeited from convicted individuals “far exceeds” any tax benefits accorded.
Singapore proposes tougher law to catch money launderers - THE EDGE SINGAPORE

Anti-money laundering

Singapore proposes tougher law to catch money launderers

Authorities can now prosecute suspected offenders without needing to directly link illicit gains to the original crime.

Singapore news

Singapore seized $6 bil linked to criminal and money laundering activities since 2019

Of the amount confiscated between January 2019 and June 2024, some $416 million has been returned to victims.

Singapore news

Singapore’s reputation as haven for super-wealthy is tested: Bloomberg Opinion’s Shuli Ren

"Singapore, it turns out, still cares about its reputation. Singapore-washing has finally hit a wall.": Ren
Singapore ramps up scrutiny of family offices, hedge funds - THE EDGE SINGAPORE

Anti-money laundering

Singapore ramps up scrutiny of family offices, hedge funds

The government’s push to tighten various investment regimes has accelerated since March.

Anti-money laundering

Singapore banks probe rich clients after money-laundering case

The Monetary Authority of Singapore recently completed on-site inspections of some banks that were involved in the case.

Anti-money laundering

MAS imposes $2.5 mil penalty on Swiss-Asia Financial Services for AML and CFT breaches

In its May 7 statement, MAS says the company has taken the “necessary remedial actions” to address the deficiencies identified.
Singapore seizures rise to $3 bil in money laundering case - THE EDGE SINGAPORE

Anti-money laundering

Singapore seizures rise to $3 bil in money laundering case

Warrants of arrest and Interpol Red Notices have also been issued against Su Yongcan and Wang Huoqiang.
×