Bylined article: How banks can shore up defences against illicit financial flows (Jul 2023)

In a recent byline article featured on the Business Times, our Partner - Singapore, Consulting (Financial Services), Athreya H. D. sheds light on the pressing need for banks to bolster their defences against illicit financial flows. As the global financial ecosystem continues to expand, combating money laundering and terrorism financing has emerged as a paramount responsibility.

He shares that in this endeavour, financial institutions (FIs) play a critical role in safeguarding the integrity of the financial system. "The penalties imposed by MAS serve as a clarion call for Singapore banks to enhance their financial crime defence strategies. As Singapore’s stature as an international financial centre grows, the imperative for banks to bolster their defences against financial crimes has never been more critical."

Read the full article on the Business Times.

Or view the print article below.