Close all loopholes to stamp out money laundering

OCBC Bank continues to reflect time-deposit account numbers on my e-statement, even though these deposits were closed years ago.

Such a practice could facilitate money laundering - a third party and/or an insider could use such zero-balance accounts as a conduit to transfer funds.

I have inquired about this in the past, and was told that it is "normal banking practice".

Banks don't seem to realise that banking practices must be dynamic, and financial institutions should close all loopholes in the concerted effort to stamp out the scourge of money laundering.

Jairam Amrith