The Monetary Authority of Singapore (MAS) has concluded its largest money laundering investigation, imposing fines totaling S$27.5 million (approximately US$21.5 million) on nine financial institutions, including UBS and Citi. The case, involving the Fujian Gang, saw the seizure of assets such as cash, luxury homes, luxury goods, and cryptocurrencies. UBS's former Credit Suisse Singapore branch received the highest fine of S$5.8 million due to anti-money laundering control deficiencies.