Singapore ends 2.2 billion dollar money laundering with fines

Singapore imposed a fine of 27.5 million Singapore dollars ($ 21.5 million) Against nine finance companies, including UBS and Citigroup, according to an investigation of the country's largest money laundering scandal, which included the confiscation of assets from luxury real estate to cryptocurrencies.

Die Monetary Authority of Singapore (BUT) announced that the local unit of Credit Suisse, which is now part of UBS, was fined with a fine of $ 5.8 million-the highest punishment due to defects in the anti-money laundering checks (AML).BloombergIt was reported that Citigroup's Singapore business was also fined due to compliance violations.

The enforcement closes a two -year examination of a far -reaching case of $ 3 billion ($ 2.2 billion) from, which was unveiled in 2023.

Ten people of Chinese origin, known as the Fujian gang, were convicted, while two ex-bankers were charged last year for their participation.

Authorities confiscated cash, assets, luxury goods and cryptocurrencies that are connected to the case. The companies involved take remedial measures and the supervisory authority plans to precisely monitor progress.