SINGAPORE - It is too early to tell if the banks affected by one of the country’s biggest anti-money laundering probes had adhered to stringent controls, said the Monetary Authority of Singapore (MAS).
Citibank Singapore and CIMB Bank are among banks hit by the billion-dollar money laundering case, where 10 foreigners were arrested and charged with forgery offences and laundering of ill-gotten gains allegedly from their crimes overseas, linked to scams and online gambling.
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