Legal
MAS Imposes Composition Penalty of S$1 million on Bank J. Safra Sarasin
The Monetary Authority of Singapore has imposed a composition penalty of S$1 million on Bank J. Safra Sarasin Ltd, Singapore Branch (BJS) for its failures to comply with MAS’ Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) requirements. The penalty amount took into consideration BJS’s remediation actions to address…
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