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Singapore needs more fraud busters


  • 1MDB
  • Thursday, 29 Nov 2018

High-profile cases such as the 1MDB embezzlement scandal are increasingly involving large networks of sophisticated cross-border fund transfers, underscoring the challenge for banks and regulators dealing with thousands of dubious   transactions each year.

High-profile cases such as the 1MDB embezzlement scandal are increasingly involving large networks of sophisticated cross-border fund transfers, underscoring the challenge for banks and regulators dealing with thousands of dubious transactions each year.

SINGAPORE: Singapore, which is increasingly using technology to combat money laundering and terrorism financing, faces a shortage of skilled data analysts who can help banks track down illicit cash flows.

The skills gap could be addressed by importing foreign talent and training locals, according to a report released Thursday by a partnership of banks, the financial regulator and police.

1MDB , Corporate News , Banking , Technology

   

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