Bank of Singapore controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
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2022
Luxembourg anti-money-laundering enforcement
On 19 October 2022, Luxembourg’s financial regulator CSSF fined BOS Wealth Management Europe S.A. €210,000 for non-compliance with laws concerning money laundering and terrorist financing controls.
2022
DFSA fine for AML control deficiencies at Dubai branch
On 10 November 2022, the Dubai Financial Services Authority fined Bank of Singapore’s DIFC branch US$1.12 million. The findings included weaknesses in business-risk assessments, client-risk assessments, customer due diligence, enhanced due diligence, source-of-wealth and source-of-funds checks, and suspicious-activity reporting.