by Jyotsna Bucktowar | May 20, 2026
MAS identified serious regulatory breaches including deficiencies in risk management and governance, failures to comply with anti–money laundering and counter-terrorist financing requirements, and the submission of false or misleading information to the regulator. As...
by Jyotsna Bucktowar | May 5, 2026
The regulator identified that the bank had outdated compliance policies and procedures that were not properly maintained or approved, and failed to apply enhanced due diligence and special measures for high-risk clients, both of which are key requirements in a...
by Jyotsna Bucktowar | May 5, 2026
The regulator found that Birks did not maintain properly developed or regularly updated written compliance policies approved by senior management, failed to adequately assess and document money laundering and terrorist financing risks, and did not complete the...
by Jyotsna Bucktowar | Apr 8, 2026
These included failures to develop and maintain an adequate risk assessment, implement effective written compliance policies and procedures, provide ongoing staff training, and conduct the required effectiveness review of its compliance framework. The case highlights...
by AdrianaAMLP | Mar 17, 2026
MAS imposes a 16-year prohibition order on Wang Qiming and a 7-year order on Liu Kai, barring them from conducting any regulated financial-services activities due to misconduct including forgery, money laundering and obstruction of justice in connection with...
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