Physical Address
304 North Cardinal St.
Dorchester Center, MA 02124
Singapore imposed a fine of nine financial companies, including UBS and Citigroup, $ 27.5 million ($ 21.5 million) After the probe to the biggest scandal of money washing in the country, which included seizure of assets from luxury property to cryptocurrency.
Monetary authority in Singapore (BUT) announced that the local Credit Suisse unit, now part of UBS, faced the biggest punishment of $ 5.8 million for gaps in anti-pans wash (AML) Controls, Bloomberg reported. The Singapore’s Citigroup’s business was also fined for garbage compliance.
The coercive activity packs a two -year investigation of a large 3 billion with ($ 2.2 billion) The case was revealed in 2023.
Ten individuals of Chinese origin were convicted, called Fujian Gang, while two former bankers were charged with their involvement last year.
The authorities confiscated cash, property, top goods and cryptocurrency associated with the case. Participants will take corrective steps and the regulatory body plans to carefully monitor progress.
