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Midweek Roundup: Singapore Penalizes Banks for 1MDB Breaches, Deutsche Bank Fined by US Federal Reserve, and More
printSingapore's central bank fined Credit Suisse and United Overseas Bank a combined $1.2 million for breaching anti-money laundering rules by processing transactions linked to scandal-hit Malaysian sovereign wealth fund 1 Malaysia Development Bhd., Reuters reported. More The U.S. Federal Reserve fined Deutsche Bank more than $40 million for systematic anti-money laundering weaknesses and accused the German lender of "unsafe and unsound practices" in its U.S. branch, Bloomberg said. More Attorneys for President Donald Trump's former national security adviser, Michael Flynn, told lawmakers in a letter that he will comply with three subpoenas for his personal and business records requested as...
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