SINGAPORE -- Foreign and local banks in Singapore will be required to share information with one another on a digital platform that will make it easier to raise red flags on potential money laundering acts, as the city-state tightens oversight on illicit capital flows.
Finance
Singapore taps HSBC, Citi for rigid money laundering controls
City's lawmakers pass bill paving way for banks to cross-share information
The largest financial institutions operating in Singapore are to use the new information-sharing system, voluntarily at first. © Reuters
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