Banks
Singapore banks probe rich clients, train staff to spot money laundering tricks
CITIGROUP, DBS Group Holdings and other banks caught up in Singapore’s biggest money-laundering scandal are ramping up scrutiny of their wealthy customers and potential clients to avoid exposure to...
The banks that hold most money in Singapore laundering scandal
In a Singapore courtroom on Friday (Jun 7), the last of those arrested for their involvement in the island nation’s biggest laundering case pleaded guilty, paving the way for...
Banks say growing reliance on Big Tech for AI carries new risks
THE boom in artificial intelligence will increase banks’ dependence on big US tech firms, creating new risks for the industry, European banking executives said.
Excitement around using artificial intelligence (AI)...
Mitsubishi, Sumitomo Mitsui banks to divest 1.32 trillion yen in Toyota shareholdings
MITSUBISHI UFJ Financial Group and Sumitomo Mitsui Financial Group will start divesting 1.32 trillion yen (S$11.4 billion) worth of strategic shareholdings in Toyota Motor, sources with knowledge of the...
US banks tap complex mortgage product to fight deposit flight risk
US BANKS are ramping up investments in a complex part of the mortgage bond market that offers shorter-term securities, as they cope with the growing risk of their losing...
Banks’ drive to ‘tokenise’ assets moves slower than expected
BANKS which for years have talked about creating ‘tokenised’ versions of assets such as bonds and currencies say a shift to blockchain-based trading is taking longer than expected, with...
StanChart banks on international ties amid demand for cross-border wealth needs: James Lye
INTERNATIONAL banking is increasingly becoming a key driver for Standard Chartered Bank’s (SCB) affluent business, as more clients look for wealth offerings outside of their home jurisdictions, said James...
Chinese move billions into Hong Kong banks seeking higher yields
HSBC Holdings attracted more than 130,000 new bank customers in Hong Kong in the first quarter. Bank of China (Hong Kong) gained 200,000 new cross-border clients in 2023, while...
