financial penalties

RWS had previously been penalised a total of $95,000 by GRA between April 2022 and March 2023 for similar lapses.

SINGAPORE (May 7): Since 2012, regulators and law enforcement agencies around the world has imposed more than US$11 billion ($14.7 billion) in financial penalties, but the scale of bribery and corruption has shown no improvement globally, according to the

SINGAPORE (June 2): This past week, the Monetary Authority of Singapore (MAS) imposed penalties on two more banks and said it had completed an extensive, two-year-long probed into the 1Malaysia Development Bhd (1MDB).

SINGAPORE (May 30): The Monetary Authority of Singapore (MAS) is imposing a total of $1.6 million in financial penalties on Credit Suisse and United Overseas Bank (UOB), having completed its two-year review of banks involved in the transactions related to

SINGAPORE (Oct 11): DBS Bank and UBS Singapore have issued their responses to the Monetary Authority of Singapore’s (MAS) announcement this morning which revealed that the banks have been found to have breached the MAS’s anti-money laundering (AML) co

SINGAPORE (Oct 11): Falcon Bank has issued a statement saying it is “confident about its future” after today’s earlier announcement of the Monetary Authority of Singapore’s (MAS) decision to withdraw the merchant bank status of Falcon Bank’s Sin

SINGAPORE (Oct 11): The Monetary Authority of Singapore (MAS) is withdrawing the merchant bank status of Falcon Bank’s Singapore branch for its “serious failures in anti-money laundering (AML) controls and improper conduct” by senior management at i