The Monetary Authority of Singapore (MAS) issued a clarification in response to media queries about allegations by Mr Koh Kien Chon (Ken Koh) of improper conduct by United Overseas Bank (UOB), confirming that the matter is being reviewed. MAS stated it responded to Mr Koh on 28 February 2025 and 17 March 2025 to inform him that the issues he raised were being looked into, and rejected as false any suggestion that it has not responded or is not following up. MAS added that allegations of any legal or regulatory breach will be examined.
Monetary Authority of Singapore 2025-03-28
Monetary Authority of Singapore confirms it is reviewing allegations of improper conduct at United Overseas Bank
The Monetary Authority of Singapore (MAS) clarified that it is reviewing allegations of improper conduct by United Overseas Bank (UOB) made by Mr. Koh Kien Chon. MAS confirmed it has communicated with Mr. Koh and refuted claims of inaction, stating that any legal or regulatory breaches will be investigated.