The financial watchdog in Singapore has fined four businesses for violations connected to the Wirecard scandal.
According to the Monetary Authority of Singapore (MAS), the fines total S$3.8m ($2.8m; £2.2m).
Despite the seriousness of the violations, the MAS claimed that no evidence of "wilful misconduct" on the part of financial institution employees had been discovered.
Separately, earlier this week in the city state, two former Wirecard employees received jail terms.
The MAS announced in a statement that it had fined the local operations of Swiss Life and US-based insurance company Citigroup as well as the Singaporean banks DBS and OCBC.
The biggest fine, a S$2.6m fine, was given to DBS, the largest bank in Singapore.
The MAS accused the bank of failing to "adequately establish the source of wealth of higher risk customers" and "inquire into the background and purpose of unusually large transactions.".
A Singapore court sentenced two former Wirecard Asia Holdings employees to prison earlier this week for planning to steal money.
James Aga Wardhana received a 21-month prison sentence, while Chai Ai Lim received a 10-month sentence.
The sentences represented the first criminal convictions ever in connection with the Wirecard scandal.
German payment company Wirecard declared bankruptcy in 2020 after discovering an accounts gap of €1.9 billion ($2.1 billion; £1.6 billion).
In December, Markus Braun, the company's former boss, went on trial for allegedly taking part in the largest fraud case in German history.
Authorities have charged Mr. Braun with approving financial reports that were false while doing so. Additionally, they claimed Wirecard falsified documents to claim it had money when, in fact, it didn't.
Braun has vehemently denied any wrongdoing. Long into 2024, the trial is anticipated to go on.
German regulators penalized and barred accounting firm EY for handling audits for Wirecard in April of this year.
The two-year ban prevents EY from conducting or accepting significant new audit mandates.
