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Billion-Dollar Money Laundering Case: MAS Slaps 9 Financial Institutions with S$27.45 Million in Penalties
9 Articles
9 Articles
The parliamentary refusal is not directed exclusively against Panama, but against the complete package of countries proposed to be removed from the list. Parliament argues that voting in bloc prevents the analysis of each country in a differentiated way.
Several Swiss banks have to pay millions of euros for buses in Singapore. In the city's largest money laundering operation, the Singapore financial market authority MAS has paid a total of nine financial institutions.
Singapore penalises nine financial institutions over 2023 money laundering case
SINGAPORE, July 4 — Singapore’s central bank today imposed penalties on nine financial institutions, including Citibank, Julius Baer and UBS, totalling S$27.45 million (RM90.96 million) in relation to the country’s biggest ever money laundering case in 2023. The case involved more than S$3 billion in illicit assets seized after 10 foreigners were convicted in a series of simultaneous raids in August 2023. The total penalty is just short of the S…
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