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MAS imposes S$6.4 million Standard Chartered fine

The Monetary Authority of Singapore has slapped Standard Chartered with a S$6.4 million fine for breaching anti-money laundering and financing of terrorism (AML/CFT) requirements in the city-state. The breaches relate to the transfer of US$1.4 billion of assets from Guernsey to Singapore by clients in 2015, first revealed in in October last year. The watchdog fined Standard Chartered Bank, Singapore Branch (SCBS), a…

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