CoinVoice has learned that, according to the Monetary Authority of Singapore (MAS), a total fine of 27.5 million Singapore dollars (approximately 21.5 million US dollars) has been imposed on nine financial institutions, including UBS and Citibank, to conclude the largest money laundering investigation in the country's history. The case involves 10 individuals from the 'Fujian Gang,' with assets seized including cash, luxury homes, luxury goods, and cryptocurrency. UBS's former Credit Suisse Singapore branch was fined 5.8 million Singapore dollars for failures in anti-money laundering controls, making it the entity with the highest fine. (CoinDesk) [Original link]