money laundering

Anti-laundering legal holes being bridged

February 27, 2025 | 10:20

The banking sector is intensifying efforts to strengthen the legal framework and implement robust measures to combat money laundering in cross-border payments and remittance services, safeguarding the economy and the national financial system.

Singapore warns of money laundering risks in areas

June 24, 2024 | 17:07

As a business, financial and trade hub, Singapore is vulnerable to being misused as a conduit to launder illicit funds derived from fraud committed abroad, said the Singapore’s Money Laundering National Risk Assessment (ML NRA).

Banks in Singapore tighten management after 3-billion-USD money laundering case

June 11, 2024 | 09:46

Banks in Singapore, including Citigroup and DBS Group Holdings, are ramping up scrutiny of their wealthy customers and potential clients to avoid exposure to illicit flows.

Drastic measures needed to remove Vietnam from money laundering grey list: Deputy PM

October 20, 2023 | 08:00

Deputy Prime Minister Le Minh Khai has urged drastic measures to lift Vietnam out of the Financial Action Task Force (FATF)’s list of Jurisdictions under Increased Monitoring (grey list) within two years.

Singapore cracks down money laundering case worth over 1.76 billion USD

September 25, 2023 | 15:45

Singaporean media on September 20 reported local police have seized or frozen more than 1.76 billion USD worth of assets in one of the biggest money laundering cases ever uncovered in the city-state.

National action plan on anti-money laundering approved

August 20, 2022 | 15:01

Deputy Prime Minister Le Minh Khai has signed a decision on the National Plan of Action on prevention and control of money laundering, terrorism financing and financing of the proliferation of weapons of mass destruction for the 2021-2025 period.

HCM City to combat laundering in real estate

September 03, 2019 | 09:09

The HCM City Department of Construction (DoC) has asked real estate companies, brokers and trading floors in the city to strengthen preventive measures against money laundering and terrorist financing.

German supervisor raps Deutsche Bank over money laundering

September 25, 2018 | 10:49

Germany's financial supervisor urged Deutsche Bank Monday (Sep 24) to beef up its fight against money laundering, and for the first time used its power to embed an auditor at the country's biggest lender.

New technologies to prevent anti-money laundering activities

May 23, 2018 | 16:00

When financial transactions grow rapidly, banks are required to work together and invest more in advanced technologies to combat money laundering.

MAS fines StanChart Singapore S$5.2m for anti-money laundering, terrorism financing breaches

March 19, 2018 | 17:07

Standard Chartered Bank, Singapore Branch (SCBS) has been fined S$5.2 million and Standard Chartered Trust (Singapore) Limited (SCTS) has been fined S$1.2 million for breaches of the Monetary Authority of Singapore's (MAS) anti-money laundering and countering the financing of terrorism requirements.