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BSI closure set to fuel more client scrutiny

Private banks were already scrambling to review client lists after the Panama Papers leak – and now comes BSI Bank's shutdown in Singapore. A raft of new regulations has been tipped.
BSI closure set to fuel more client scrutiny

Private banks, already on high alert following the Panama Paper leaks, are tipped to review their client bases even more closely on news that BSI Bank will close in Singapore. These events have reinforced the realisation that wealth managers must be far more aware of the source of customer funds, note industry observers.

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