Bank of Singapore fined US$1.12m in Dubai for AML failings

A wholly-owned branch of the Singapore-based Oversea-China Banking Corporation (OCBC) has been ordered to pay US$1.12m by the Dubai Financial Services Authority (DFSA) for a series of anti-money laundering breaches between November 2017 and June 2022.

A wholly-owned branch of the Singapore-based Oversea-China Banking Corporation (OCBC) has been ordered to pay US$1.12m by the Dubai Financial Services Authority (DFSA) for a series of anti-money laundering breaches between November 2017 and June 2022. [1]