Singapore Central Bank Fines Firms for 1MDB-Related AML Breaches
The fines are part of ongoing efforts to unravel a litany of failures by firms associated with the 1Malaysia Development Bhd fund.
The MAS also said it will issue a prohibition order against Tim Leissner─former director of Goldman Sachs Singapore, who was responsible for managing the relationship with 1MDB when Goldman Sachs was engaged to arrange three bond issuances for 1MDB from 2012 to 2013─for making false statements on behalf of Goldman Sachs Asia without the bank's knowledge or consent.
Singapore has seen heightened focus on AML and counter-terrorist financing investments among financial institutions this year. The
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