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NEWS: Singapore’s biggest bank makes $74M allowance to cover off exposure to money laundering scandal

Premium November 6, 2023

A DBS Bank staff member assists a customer at a branch at the bank's headquarters in Singapore. The group reported today (Monday) a better than expected 18% jump in third-quarter net profit on the back of higher interest rates, which it forecast will also help keep its profit steady next year.

INSIGHT: GDPR revamp the opportunity for EU bank data-sharing to fight financial crime

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NEWS: UK money laundering gang which exploited Ukraine war jailed for 13 years

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BREAKING: Revolut fined record €3.5 million by Lithuania for AML breaches

Singapore’s biggest bank DBS Group has made allowances of $74M (S$100M) in relation to the city-state’s $2BN money laundering scandal, it was revealed today. Specific allowances of S$197 million were higher than recent quarters as the bank set aside contingencies for exposure linked to a suspected money laundering case in Singapore, one of the country’s…

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INSIGHT: GDPR revamp the opportunity for EU bank data-sharing to fight financial crime

 Premium

NEWS: UK money laundering gang which exploited Ukraine war jailed for 13 years

 Premium

BREAKING: Revolut fined record €3.5 million by Lithuania for AML breaches

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