The United Overseas Bank (UOB) Plaza building is pictured in the central business district in Singapore July 24, 2015. REUTERS/Edgar Su/File Photo
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Singapore's central bank chief vowed Monday to name and shame other banks engaged in money-laundering after a scandal involving Malaysian state fund 1MDB hurt the city-state's financial reputation.The money-laundering lapses uncovered during a 15-month investigation into fund flows linked to 1MDB are "simply unacceptable", Monetary Authority of Singapore (MAS) managing director Ravi Menon told a press briefing. The MAS, which regulates the financial sector and also functions as Singapore's central bank, said it would be stepping up enforcement.Swiss financial regulators later dissolved the bank for similar reasons.
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