MAS fines wealth firm Swiss-Asia for AML breaches

Singapore’s watchdog has slapped wealth firm Swiss-Asia with a S$2.5m penalty for breaching its anti-money laundering (AML) and countering the financing of terrorism requirements. The Monetary Authority of Singapore (MAS) has also reprimanded Swiss-Asia’s CEO Olivier Pascal Mivelaz (pictured) and its COO, Steve Knabl for failing to carry out their…