Singapore fines Credit Suisse, UBS, UOB, Julius Baer, LGT, Citi and others S$27m

4 July 2025 | 3 minutes read

Singapore’s Monetary Authority (MAS) has imposed S$27.45 million in fines on nine financial institutions (FIs), including Credit Suisse, UBS, Julius Baer, and UOB, for their roles in the “Fujiang gang” money laundering scandal, the largest in the city-state’s history. The 2023 case involved at least 10 Chinese nationals laundering approximately S$3 billion through illicit channels. In its statement, MAS detailed…

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