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Singapore Slams 9 Banks with Fines in $3B Money Laundering Crackdown
Singapore Slams 9 Banks with Fines in $3B Money Laundering Crackdown
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Singapore’s financial watchdog just dropped the hammer—nine banks caught in a $3 billion money laundering dragnet. No more 'see no evil' for institutions that missed the red flags.
Regulators aren’t playing nice. The Monetary Authority of Singapore (MAS) flexed its muscles, hitting lenders with penalties for compliance failures. Guess due diligence took a coffee break.
Finance’s dirty little secret? Compliance is expensive—until it isn’t. Now banks get to pay the piper for shortcuts. Stay tuned for the next episode of 'Who Didn’t Do Their Homework?'
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