Anti-Money Laundering Cases Investigated in Singapore

Between 2010 to 2012, financial crimes investigators and regulators fined 22 financial institutions for lax anti-money laundering policies and efforts to combat terrorism financing.

The Monetary Authority of Singapore conducted 108 on-site inspections of financial firms and issued 47 warnings and reprimands.

13 money changers and remittance agents were not allowed to renew their licenses during this time period.

(Details on selected laundering cases.)

Source:  “22 financial institutions fined over last 3 years for weak anti-money laundering controls,” Channel NewsAsia, July 12, 2013.