The Monetary Authority of Singapore (MAS) has issued nine banks, capital markets services licence holders and trust companies composition penalties totalling S$27.45 million (US$21.55 million) over breaches tied to a S$3 billion (US$2.36 billion) money-laundering case that shook the city state.
MAS said on Friday the latest regulatory moves marked the end of enforcement action against financial institutions with connections to the case. All nine financial institutions have accepted the penalties…
