Skip to content

CryptoVert Blockchain App for iOS

Bitcoin, NFTs, News, and more!

Primary Menu
  • Crypto
  • Blockchain
  • NFT’s
  • Videos
  • Download App
  • Home
  • Crypto
  • Crypto, Cash, and Condos: Singapore Ends $2.2B Laundering Case With Fines
  • Crypto

Crypto, Cash, and Condos: Singapore Ends $2.2B Laundering Case With Fines

cryptovert July 6, 2025 1 min read

Singapore fined nine financial firms, including UBS and Citigroup, S$27.5 million ($21.5 million) after a probe into the country’s largest money laundering scandal, which involved the seizure of assets ranging from luxury real estate to cryptocurrency.

The Monetary Authority of Singapore (MAS) announced that Credit Suisse’s local unit, now part of UBS, faced the biggest penalty of S$5.8 million for gaps in anti-money laundering (AML) controls, Bloomberg reported. Citigroup’s Singapore business was also fined for compliance lapses.

The enforcement wraps up a two-year investigation into a sprawling S$3 billion ($2.2 billion) case revealed in 2023.

Ten individuals of Chinese origin, dubbed the Fujian gang, were convicted, while two ex-bankers were charged last year for their involvement.

Authorities seized cash, property, high-end goods, and cryptocurrency linked to the case. Involved firms are taking remedial steps, and the regulator plans to monitor progress closely.

Continue Reading

Previous: Drake Compares Fake Friends to Bitcoin’s Volatility: ‘Down This Week, Up Next’
Next: Ethereum Touted as ‘Foundational Layer for Global Finance’ by Firm With $500M ETH Bet

Related Stories

Asia Morning Briefing: BTC’s Institutional Waves Are Building, Not Breaking
4 min read
  • Crypto

Asia Morning Briefing: BTC’s Institutional Waves Are Building, Not Breaking

July 8, 2025
Dubai Sets RWA Milestone With First Approval of Tokenized Money Market Fund
2 min read
  • Crypto

Dubai Sets RWA Milestone With First Approval of Tokenized Money Market Fund

July 8, 2025
Solana Matches All Other Chains Combined in Monthly Active Users, Artemis Data Shows
2 min read
  • Crypto

Solana Matches All Other Chains Combined in Monthly Active Users, Artemis Data Shows

July 8, 2025

You may have missed

Dubai Sets RWA Milestone With First Approval of Tokenized Money Market Fund
2 min read
  • Crypto

Dubai Sets RWA Milestone With First Approval of Tokenized Money Market Fund

July 8, 2025
Asia Morning Briefing: BTC’s Institutional Waves Are Building, Not Breaking
4 min read
  • Crypto

Asia Morning Briefing: BTC’s Institutional Waves Are Building, Not Breaking

July 8, 2025
Real Estate Firm Murano to Build Bitcoin Treasury With $500M Equity Deal
1 min read
  • Crypto

Real Estate Firm Murano to Build Bitcoin Treasury With $500M Equity Deal

July 8, 2025
Solana Matches All Other Chains Combined in Monthly Active Users, Artemis Data Shows
2 min read
  • Crypto

Solana Matches All Other Chains Combined in Monthly Active Users, Artemis Data Shows

July 8, 2025
  • Crypto
  • Blockchain
  • NFT’s
  • Videos
  • Download App
Copyright © All rights reserved. | MoreNews by AF themes.