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SYDNEY: Westpac Banking Corp will pay a record A$1.3bil (US$920mil) fine to settle Australia’s biggest breach of anti-money laundering laws, capping a saga that shredded the bank’s reputation and cost former chief executive officer Brian Hartzer his job.
SYDNEY: The CEO of Australian casino giant Crown Resorts Ltd said on Wednesday the company's holiday package clients posed a higher risk of money
SINGAPORE: Singapore’s financial regulator is “closely studying” a report that said about US$4.4bil of suspicious transactions flowed through the city’s bank
HONG KONG: HSBC Holdings Plc told its staff to stop posting on all the bank’s social media accounts over fears of “negative reactions” to the revelations in leaked suspicious activity reports.
KUALA LUMPUR: Public Bank Bhd (PBB) is committed in the efforts to combat financial crimes and will cooperate with the authorities to maintain the integrity of the financial system.
SINGAPORE: The Monetary Authority of Singapore (MAS) said on Tuesday that it was 'closely studying' media reports that Singapore banks had informed U.S. regulators of suspicious transactions.
HONG KONG: HSBC and Standard Chartered Hong Kong shares dropped on Monday after media reports that they and other banks moved large sums of allegedly illicit funds over nearly two decades despite red flags about the origins of the money.
Several global banks moved large sums of allegedly illicit funds over a period of nearly two decades, despite red flags about the origins of the money, BuzzFeed and other media reported on Sunday, citing confidential documents submitted by banks to the U.S. government.
WASHINGTON: The U.S. Department of Justice is seeking to recover $300 million in additional assets allegedly associated with the multibillion-dollar 1MDB scandal, assets it has traced to an escrow account in the United Kingdom, the agency said on Wednesday.