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DBS Hong Kong unit fined HK$10 million by monetary authority for anti-money laundering compliance failures

( July 5, 2024, 18:03 GMT | Official Statement) -- MLex Summary: The Hong Kong Monetary Authority announced the completion of an investigation and disciplinary proceedings for DBS Bank (Hong Kong) Limited under the Anti-Money Laundering and Counter-Terrorist Financing Ordinance. The Monetary Authority imposed a penalty of HK$10,000,000 (US $1.28 million) against DBSHK for contraventions of the AMLO.Statement follows below:...

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