Russian Laudromat probe yet to uncover AML shortcomings, says MAS

9 January 2018 | 2 minutes read

The Monetary Authority of Singapore (MAS) informed the state’s parliament that no major shortcomings have been discovered thus far in its investigation of banks linked to the ‘Russian Laundromat’ scheme. Last March, the Organised Crime and Corruption Reporting Project (OCCRP) revealed that a sum of US$20.8b from 19 Russian banks was laundered between 2011 and 2014, using banks in 96…

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