AInvest Newsletter
Daily stocks & crypto headlines, free to your inbox
Singapore Fines $21.5M in Largest-Ever Money Laundering Case Involving Cryptocurrency and Real Estate
ByAinvest
Saturday, Jul 5, 2025 8:33 pm ET1min read
Singapore's Monetary Authority of Singapore (MAS) has fined nine financial institutions, including UBS and Citibank, a total of 27.5 million Singapore dollars (approximately 21.5 million US dollars) in the country's largest-ever money laundering case investigation. The case involved 10 members of the "Fujian Gang" and seized assets including cash, luxury homes, luxury goods, and cryptocurrency. The former UBS Singapore branch was fined the highest amount, 5.8 million Singapore dollars, due to anti-money laundering control loopholes.
Ainvest News articles are AI-generated using advanced large language model (LLM) technology designed to analyze and synthesize publicly available data and news. While AI tools assist in producing initial drafts and insights, all AI generated content published on Ainvest is subject to comprehensive human editorial review before publication. A designated human editor reviews, verifies, and approves each article for factual accuracy, coherence, and compliance with AInvest Fintech Inc’s editorial and disclosure standards.
Despite these review procedures, the information provided may still contain inaccuracies, incomplete data, or time sensitive references due to the inherent limitations of AI generated analysis and evolving changes. The material is provided strictly for informational and educational purposes and does not constitute personalized investment, legal, or financial advice. Readers should independently verify all facts, figures, and statements before making any decision based on this content.
AInvest Fintech Inc. its affiliates, and partners accept no liability or responsibility for any direct or consequential losses arising from reliance on this content. All articles and analyses are subject to revision, update, or removal without prior notice to maintain accuracy and integrity in our publications.
Comments
No comments yet