DBS has S$100 million exposure to Singapore laundering scandal
Channel: 🎤 Today News
Date: 2023-11-07

"📺: Singapore news on November 7, 2023
- DBS has S$100 million exposure to Singapore laundering scandal

* - DBS Bank has a $100 million exposure to the Singapore laundering scandal.
- The bank has taken a conservative approach and set aside provisions for any potential losses.
- DBS has stated that it is cooperating with authorities and conducting its own investigations into the matter.
- The bank's CEO, Piyush Gupta, has assured that the situation is under control and the bank's operations are not affected.
- The Singapore police have frozen bank accounts linked to the scandal and arrested several individuals.
- The scandal involves a company called Hin Leong Trading and its founder, Lim Oon Kuin, who is facing charges of fraud and forgery.
- DBS is not the only bank with exposure to the scandal, as other major banks in Singapore have also reported potential losses.
🔒: DBS
-  S$00 million
-  exposure
-  Singapore
-  laundering scandal
 🎬🌏:   #TodayNews  #Today  #News  #dailynews  #singapore  #singaporenews  #DBS  #S$00million  #exposure  #Singapore  #launderingscandal"

😆😂 Thank you again!😂😆
💗📌 Singapore