The MAS’ decision to shut down BSI Singapore yesterday sent shockwaves through the industry, forcing private banks to reassess their anti-money laundering (AML) controls, according to compliance and AML experts who have spoken with Asian Private Banker on the matter. “The decisive action [taken by Singaporean regulators] demonstrates that banks without proper AML controls or…
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The post "Personal accountability the order of the day", as BSI Singapore fiasco serves as wakeup call for private banking industry appeared first on Asian Private Banker.
