In a statement issued by the HKMA on July 6, DBS failed to regularly monitor business relationships and assess high-risk situations during various periods from April 2012 to April 2019, and failed to keep records relating to some of its customers.
DBS logo outside an office in Singapore on January 5, 2016.
The HKMA said the penalty took into account the seriousness of the findings in the investigation, as well as DBS's implementation of corrective actions to address the shortcomings and improve controls.
A DBS spokesperson said it accepted the HKMA’s decision and would take its anti-money laundering obligations seriously. The bank also said it had implemented new policies to continue to detect and manage new money laundering methods.
Source: https://thanhnien.vn/dbs-bi-phat-128-trieu-usd-sau-cuoc-dieu-tra-rua-tien-185240706213708274.htm
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