Too early to tell if banks hit by billion-dollar money laundering case had followed rules, says MAS

SINGAPORE - It is too early to tell if the banks affected by

one of the country’s biggest anti-money laundering probes

had adhered to stringent controls, said the Monetary Authority of Singapore (MAS).

Citibank Singapore and CIMB Bank are among banks hit by the billion-dollar money laundering case, where 10 foreigners were arrested and charged with forgery offences and laundering of ill-gotten gains allegedly from their crimes overseas, linked to scams and online gambling.