The Monetary Authority of Singapore (MAS) has imposed composition penalties amounting to $3.8 million on Citibank Singapore, DBS Bank and OCBC Singapore, as well as insurer Swiss Life (Singapore), for breaches of the central bank’s anti-money laundering (AML) requirements.
Quoteworthy: "That’s what the great embarrassment for dictators — when they didn’t know what happened." –— US president Joe Biden made a public political provocation by referring to China’s Xi Jinping as a “dictator”
MAS penalises Citibank, DBS and OCBC (SGX:O39
) for breaches of anti-money laundering requirements
