Singapore banks become more cautious.
BANKING AND CREDIT NEWS-October 10, 2023--Singapore banks become more cautious
(C)2023 M2 COMMUNICATIONS http://www.m2.co.uk
Global Banking News - 10 October 2023
Commercial banks in Singapore are becoming more cautious following a recent bank scandal.
According to Reuters, commercial banks in the nation are taking longer than usual to perform due diligence on clients. In some cases, they are also closing accounts.
The nation recently witnessed one of its biggest money-laundering scandals, which involved USD2bn in assets. Banks are now very cautious regarding loan approvals and are...
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