MAS issues prohibition orders against 2 former relationship managers for up to 16 years for enabling a multi-billion-dollar ML scheme through forged documents and suspicious cross-border transactions

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 Singapore’s S$3 billion laundering case. The regulator states that their actions demonstrated a lack of honesty and integrity and underscores that it will take firm enforcement action against individuals who facilitate illicit financial flows…