Now, on the eve of the hearing, HSBC management is making a "last-ditch effort" to negotiate a settlement with the US Department of Justice on the money laundering case. The U.S. Congressional investigation is likely to issue a hefty fine bill to HSBC, and the two sides could reach a settlement of up to more than $1 billion.

After listening to this, Chen Hui said: "Standard Chartered Bank is also going to have its banking license revoked in Singapore, and this time it must be the ghost behind the Singapore sovereign fund!"

Singapore's sovereign wealth fund is a shareholder of many large companies and large banks, and the energy behind it can be described as not small.

This time, HSBC was caught, and they naturally would not be polite, uniting all the guys who have competition with HSBC, disgusting HSBC.

At the same time, Standard Chartered Bank may also have its banking license revoked in Singapore, and the current situation of Standard Chartered Bank's branch in Singapore can be described as very bad.

"Yes, it's that disgusting thing, forget that it's still a shareholder of many big banks!" Henry said in a deep voice: "But don't think about it this time, HSBC will only be fined $1 billion at most, and the U.S. Justice Department just wants money, and it doesn't listen to Singapore's sovereign wealth fund! We can reach a settlement with the U.S. Department of Justice soon!"

"Chen, I will go to Xiangjiang tomorrow, and then we will discuss how to clean up Singapore's DBS Bank, Temasek Holdings, and Singapore's sovereign wealth fund!"

Chen Hui immediately said: "OK, this time we will clean up the two horses of Singapore's sovereign wealth fund!"

"Chen, very good, we'll talk about it tomorrow!"

After making the call, Chen Hui checked the recent situation of Standard Chartered Bank in Singapore. The news he saw disgusted Chen Hui again, and his face began to be gloomy.

The Monetary Authority of Singapore (MAS) has imposed penalties on the branches of Standard Chartered Bank and Standard Chartered Trust for alleged anti-money laundering and counter-financing of terrorism violations.

It is reported that the penalty was given in a statement from MAS, which wrote a fine of S$5.2 million for Standard Chartered Bank Singapore Branch and a fine of S$1.2 million for Standard Chartered Trust Company in Singapore.

The statement referred to the imposition of fines for violations of the Anti-Money Laundering Act and the Law on Combating the Financing of Terrorism.

To be clear, it is suspected that Standard Chartered Bank had been suspicious of the delay in the transfer of funds from the Standard Chartered Trust client accounts prior to the implementation of the Public Reporting Standard (CRS) Automatic Exchange of Financial Information for Tax Matters in Guernsey. The move has led authorities to question the client's legal obligation to avoid the new CRS reporting requirements.

According to MAS, Standard Chartered Trust did not make reasonable preparations for this transaction and did not report the suspicious matters in advance to determine whether the relevant operations complied with the relevant legal requirements.

During the MAS investigation, it was also found that the parties had not done a satisfactory job in risk management and control, and had not implemented the requirements of the Singapore authorities.

In this regard, Ong Chong Tee, senior management of MAS, said that MAS requires financial institutions to make a proper assessment of whether the funds involve money laundering risks before accepting customer funds, and Standard Chartered Bank should do a good job in the system and monitoring fund transactions in advance, hoping that Standard Chartered will continue to be vigilant in risk control.

The assessment of anti-money laundering and combating the financing of qualified terrorism also reveals that if institutions can improve their risk management and control mechanisms, then the relevant penalties can be avoided, and of course, once such illegal incidents occur, they will inevitably suffer the necessary punishments.

MAS uses a variety of approaches to evaluating and regulating financial market policies. Similar to other institutions, MAS has made it clear that it will not interfere too much in the forex market. Recently, however, MAS has also said that with the rise of fintech investment, there is a renewed understanding of Bitcoin and blockchain technology, and may adjust as this demand grows.

MAS pays lip service to its understanding of the impact that Bitcoin may have on financial markets in the future. While it seems that MAS is more relaxed towards the financial sector at the moment, the Singapore authorities have upheld the norms in the market and are expected to follow suit with the regulation of related products.

At present, the Monetary Authority of Singapore is considering whether to suspend Standard Chartered's banking license in Singapore due to the illegal activities of Standard Chartered Bank.

Chen Hui thought about it for a while, and immediately made a phone call to George of the Nivonian Consortium in the United States, and after connecting.

Chen Hui immediately spoke: "George, how are you doing?"

"It's very good, but it's not a good rest! You know, it's all small problems, and you can deal with them with a little time," said George, who has been in charge of the Asian and American banking business lately, and has been in a lot of trouble with lawsuits everywhere, which has annoyed him, but fortunately, there are some small problems, but these small problems are a little bit more. Compared to HSBC's fines of billions of dollars, these are really just minor problems.

"Well, it's okay to have a small problem, by the way, George, how about what I'm bothering you to do?" Chen Hui immediately asked, this requires the vast resources of the California consortium

George said: "Chen, we have collected what you want, I will go to Hong Kong tomorrow, we will have a good discussion, the Singapore sovereign fund has indeed caused us a lot of trouble recently, this time we must clean up DBS Bank and Temasek Holdings!"

"Okay, we're going to scrap the two ponies of the Singapore Sovereign Fund this time!" said Chen Hui, who said that DBS Bank and Temasek Holdings are the two ponies of the Singapore Sovereign Fund. I have to say that Singapore's sovereign fund is indeed very powerful, one of the world's top ten sovereign funds, and the asset growth rate is also super fast.

In Asia, Standard Chartered and DBS were backed up by Singapore's sovereign wealth fund, Temasek Holdings, which were specifically used against HSBC. It's a pity that Black Shirt Capital was born, and together with Bank of America and HSBC, they snatched Standard Chartered Bank from Temasek Holdings and broke one of their arms!

The two talked for a long time, and finally hung up the phone, Chen Hui immediately got up, walked back and forth a few steps, suddenly thought of something, and immediately sent a few emails to the Malaysian branch of Shatian Group.