Major banks join forces to avoid repeating Hin Leong scandal

The collapse of Hin Leong Trading and financial trouble at several other Singapore traders now prompt a group of banks to establish a common work group, writes Reuters.

Photo: Edgar Su/Reuters/Ritzau Scanpix

A number of major banks have joined together to prevent a repeat of the scandal involving Hin Leong Trading.

A group of 20 banks, including HSBC, DBS Group and OCBC, have established a work group in Singapore in order to start initiatives that can prevent traders from committing fraud, writes Reuters citing anonymous sources.

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