Committee of Supply 2021 debate, Day 1: Murali Pillai on fraud and money laundering
02:11 Min
26 Feb 2021 05:57pm
Singapore-based banks must remain vigilant in the fight against fraud and money laundering. MP Murali Pillai said this in Parliament on Friday (Feb 26), shedding light on an "exponential increase in dollar value" of white-collar crime in recent times. He asked if the Monetary Authority of Singapore has done a review of the banks' actions against its regulatory requirements, and how it would ensure the banks would take their responsibilities seriously in preventing fraud and money laundering.