MAS Fines Citi, DBS, OCBC, and Swiss Life Following Wirecard Probe
MAS imposed penalties amounting to S$3.8 million in total on Citibank, DBS Bank, OCBC, and Swiss Life for breaching its AML/CFT requirements.
Source: fintechnews.sg
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MAS fines DBS, OCBC, Citibank and Swiss Life | Marketing-Interactive
The Monetary Authority of Singapore (MAS) has fined banks DBS, OCBC, Citibank and insurer Swiss Life a total of SG$3.8 million for breaching requirement on anti-money laundering and countering the financing of terrorism, according to a statement by MAS. All financial insitutions have since accepted
Source: marketing-interactive.com
Singapore fines DBS, Cition Wirecard AG scandal
SINGAPORE’S financial regulator imposed penalties amounting to a total of S$3.8 million ($2.8 million) on four financial institutions for breaches related to the Wirecard AG scandal. DBS Group Holdings Ltd., Citigroup Inc., Oversea-Chinese Banking Corp. and Swiss Life Holding AG were found to have inadequate money laundering and terrorism financing…
Source: businessmirror.com.ph
MAS lifts DBS capital requirement following wave of outages
The Monetary Authority of Singapore (MAS) has imposed additional capital requirements on DBS, following widespread outages in March and a subsequent disruption to its digital banking and ATM services earlier this month.
Source: finextra.com
MAS Slaps DBS with S$1.6B Additional Cap Requirement Due to Consecutive Disruptions
MAS has imposed an additional capital requirement on DBS Bank following two consecutive disruptions of its services in just over a month.
Source: fintechnews.sg