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Singapore Fines Banks, Insurer $2.8M for Breaches Linked to Wirecard Case

Singapore Fines Banks, Insurer $2.8M for Breaches Linked to Wirecard Case
The Monetary Authority of Singapore (MAS) has fined Citibank, DBS Bank, Oversea-Chinese Banking Corp (OCBC), and Swiss Life a collective sum of S$3.8 million ($2.83 million) for allegedly breaching anti-money laundering and countering the financing of terrorism (AML/CFT) requirements. The regulator said the alleged violations relate to the irregularities around the collapse of Wirecard. Fines Worth S$3.8MDBS, OCBC, Citibank, and Swiss Life agreed to pay S$ 2.6 million, S$ 600,000, S$ 400,000, a... Read More
Posted: Jun 21 2023, 17:00
Author Name: financemagnates
Views: 102097

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