Money Laundering Bulletin

Timon Molloy

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Taiwan fines Citibank, DBS for CDD violations

By Dinah Gardner, in Taipei

Taiwan’s Financial Supervisory Commission (FSC) has imposed fines of TW$10 million (US$357,385) on Citibank Taiwan Ltd and TW$6 million (US$214,342) on DBS Bank (Taiwan) Ltd for violations of local anti-money laundering (AML) regulations.

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