DBS Hong Kong, a unit of DBS Group Holdings, has been fined HK$10 million by the Hong Kong Monetary Authority for breaching anti-money laundering and counter-terrorist financing regulations between 2012 and 2019. The lapses included failures in monitoring business relationships, conducting due diligence in high-risk situations, and keeping records on customers. Despite accepting the decision, DBS stated that the issues were sporadic and historical, implementing improved measures since. This fine reflects broader industry concerns and regulatory pressures, signaling the importance of stringent AML controls and potentially impacting global financial institutions.