The Monetary Authority of Singapore (MAS) has vowed to crack down on anti-money laundering (AML) lapses, amidst an ongoing investigation into Malaysia sovereign fund 1MDB, whose links to the city-state’s financial industry run deep. Yesterday, Ravi Menon, managing director of MAS, said that he was “disappointed with the lapses in AML/CFT controls and breaches of AML/CFT regulations that we have…
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