The Monetary Authority of Singapore also issued 47 warnings and reprimands and ordered “a few” financial firms to review their anti-money laundering framework, Lee Boon Ngiap, an assistant managing director at the regulator, said in a speech today. Lee didn’t identify the firms involved.
Detailed news link: click here
Detailed speech from Lee Boon Ngiap: Safeguarding the Integrity of Singapore’s Financial Centre – Keynote address by Mr Lee Boon Ngiap, Assistant Managing Director, Monetary Authority of Singapore at ABS Financial Crime Seminar 2013