Should compliance have a bigger role?
07:22 Min
Should compliance have a bigger role?
Swiss banks have a reputation for high standards of discretion. Singapore, as a top financial hub, is well known for its strict regulatory regime. So, when Swiss bank BSI had its Singapore banking licence revoked, it raised many eyebrows. Chor Khieng Yuit looks at how a bank’s compliance safeguards and internal controls can be bypassed when collusion is involved.