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NEWS: Singapore subsidiary of Citigroup and CIMB Group Holdings affected in billion-dollar laundering raid


By Alisha Houlihan for AMLi

The Singapore subsidiary of Citigroup and CIMB Group Holdings are two of the banks affected in a $1billion money laundering case in the city-state. 

In raids last week, Bloomberg News saw charge documents indicating that some of the foreign nationals arrested used both lenders between 2020 and 2021.

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