SINGAPORE -- Singapore's financial regulator on Friday slapped penalties totaling 27.45 million Singapore dollars ($21.5 million) on major banks for shortcomings in preventing a SG$3 billion money laundering case.
Finance
Singapore hands Credit Suisse, Citi, others $21.5m in penalties
Regulator cites banks for 'shortcomings' in preventing money laundering
The Monetary Authority of Singapore on July 4 hit banks in the city-state with financial sanctions for failing to take adequate steps to combat money laundering. © Reuters
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