Mynews: Ex-Citibank Singapore banker jailed for role in US$2.3BN ML scheme, pleading guilty to forgery and obstruction, exposing serious gaps in the bank’s AML controls

Prosecutors argued that Wang knowingly breached anti-money laundering protocols to facilitate illicit fund transfers, while his defense contended that he did not personally benefit from the laundered money, and Citibank suffered no direct financial loss. This case highlights concerns about the adequacy of banking safeguards against illicit financial flows in Singapore…