MAS concludes 1MDB review with fresh fines
Credit Suisse and UOB fined $1.6 million collectively, with further individuals receiving lifetime bans
The Monetary Authority of Singapore has concluded its two-year investigation into the “complex web of transactions” surrounding the 1MDB scandal, it announced today (May 30).
In what it says are its final 1MDB-related actions against banks, Singapore’s central bank fined Credit Suisse and United Overseas Bank for “several” breaches of anti-money laundering (AML) requirements and control lapses.
“These include weaknesses in conducting due diligence on customers and inadequate scrutiny of
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