- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
As Singapore considers cracking down on money laundering, the impact of such a move may ripple far beyond that nation’s own banking system. Tom Fox has more.
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There was good news and bad news to be found in a recent review of the United States’ anti-money laundering efforts. Its failings add perspective to what are global challenges, says Joe Mont.
The Monetary Authority of Singapore imposed a 3.9 million Singapore dollars (U.S. $3 million) penalty on Credit Suisse for failing to detect misconduct by relationship managers at its Singapore branch.
Risks posed by money laundering and the financing of terrorism have dramatically increased in Singapore, according to a recent survey of the city-state’s financial institutions conducted by the Monetary Authority of Singapore.
