SINGAPORE May 30 Singapore's central bank said
on Tuesday that it has imposed financial penalties on Credit
Suisse and United Overseas Bank (UOB) after
completing its two-year review of banks involved in 1MDB-related
It fined Credit Suisse S$700,000 ($504,950) and UOB
S$900,000. It has previously imposed fines on other banks.
Malaysia's 1MDB, once a pet project of Prime Minister Najib
Razak who chaired its advisory board, is the subject of
money-laundering investigations in at least six countries
including Switzerland, Singapore, and the United States.
The Monetary Authority of Singapore said in a statement on
Tuesday that its latest inspections of the two banks revealed
several breaches of anti-money laundering requirements and
($1 = 1.3863 Singapore dollars)
(Reporting by Miyoung Kim and Masayuki Kitano; Editing by