UBS, Citi and Other Banks Hit with $21.5mn Penalty over Singapore Money-Laundering Case

Singapore hands Credit Suisse, Citi, others $21.5m in penalties

SINGAPORE -- Singapore's financial regulator on Friday slapped penalties totaling 27.45 million Singapore dollars ($21.5 million) on major banks for s

Singapore money laundering: UBS, UOB among banks hit with millions in penalties

Capital market services firms and a trust company also faced hefty penalties for their inadequate anti-money laundering measures.

UBS, Citi Among Banks Punished in Singapore Laundering Scandal

Singapore imposed S$27.5 million ($21.5 million) in penalties on nine financial firms, including a few of the world’s biggest banks, for lapses related to the city’s largest money laundering case.

UBS, Citi and other banks hit with $21.5mn penalty over Singapore money-laundering case

Scandal involving island-wide seizures of gold bars and luxury cars rocked city-state’s wealth management sector

Citi and UBS among banks fined £16m by Singapore regulator

Regulatory actions against individuals range from prohibition orders to reprimands. The post Citi and UBS among banks fined £16m by Singapore regulator appeared first on Investment International.

Singapore penalises Citi, UBS, others for money laundering breaches

Ten people originally from China but holding various nationalities were jailed in the US$2.4 billion case.