Tag: DBS Bank Hong Kong

The Hong Kong Monetary Authority Fines DBS Bank (Hong Kong) Over AML Violations!

HKMA Charlene Lensburg - July 8, 2024

On July 5, 2024, the Hong Kong Monetary Authority (HKMA) announced that it had imposed a pecuniary penalty of HK$10,000,000 ($1.3 million) on DBS Bank (Hong Kong) for contraventions of the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (AMLO). The fine was issued following an investigation that revealed several control deficiencies at DBS Bank:

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