MAS bans 2 ex-relationship managers over money laundering case

They are each given prohibition orders of 16 years and 7 years, respectively.

The Monetary Authority of Singapore (MAS) has issued prohibition orders to two former relationship managers convicted of charges connected to a major money laundering case in August 2023.

MAS issued a 16-year PO to Wang Qiming, who was convicted of four charges on offences for forgery, money laundering, and obstructing the course of justice, MAS said in a press release on 17 March 2026.

Wang was sentenced to 24 months imprisonment on 23 October 2025. Six other charges were taken into consideration for the sentencing, MAS said.

MAS has separately issued a 7-year PO against Liu Kai. Liu was convicted of one charge of using as genuine a forged document to cheat Bank Julius Baer & Co.

Liu was sentenced to 4 months’ imprisonment on 24 October 2025.

The POs prohibit Wang and Liu from carrying on or providing any MAS regulated or authorised activity or business; from participating in the management of any financial institution directly or indirectly; and from acting as director, partner, or manager of any financial institution.

Both Wang and Liu are also prohibited from becoming, or increasing their interest as a substantial shareholder of, any financial institution that is a corporation, MAS said.