#反洗钱

Singapore recently dealt with a major money laundering case, penalizing a total of nine financial companies, including UBS and Citigroup, with fines amounting to 27.5 million Singapore dollars, approximately 21.5 million US dollars. This case involves a wide range of issues, from luxury homes to cryptocurrencies.

The Monetary Authority of Singapore stated that UBS's subsidiary, Credit Suisse Singapore, was fined the most due to inadequate anti-money laundering measures, amounting to 5.8 million Singapore dollars. Citigroup's operations in Singapore were also fined due to compliance issues.

This case was exposed in 2023, with an involved amount of 3 billion Singapore dollars (about 2.2 billion US dollars), and the investigation took two years to conclude. Ten individuals, known as the 'Fujian Gang,' were convicted, and two former bankers were also prosecuted last year in connection with this case. Authorities seized a significant amount of cash, properties, luxury goods, and cryptocurrencies from the case. The involved companies are now making corrections, and regulatory agencies will monitor their compliance.