Singapore closes $2.2 billion money laundering case involving crypto, cash and real estate with $21.5 million fine

By: odaily.com|2025/07/06 00:10:30

Odaily News The Monetary Authority of Singapore (MAS) announced that it has fined nine financial institutions, including UBS and Citi, a total of S$27.5 million (about US$21.5 million) to end the countrys largest money laundering investigation. The case involves 10 people from the Fujian Gang, and the seized assets include cash, luxury homes, luxury goods and cryptocurrencies. The former Credit Suisse Singapore branch of UBS was fined S$5.8 million for anti-money laundering control loopholes, making it the institution with the highest fine. (CoinDesk)

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