Singapore's central bank ends 1MDB review, penalizes Credit Suisse, UOB
1MDB is the subject of money-laundering investigations in at least six countries.
Singapore's central bank said on Tuesday that it has imposed financial penalties on Credit Suisse and United Overseas Bank after completing its two-year review of banks involved in 1MDB-related transactions.
It fined Credit Suisse S$700,000 ($504,950) and UOB S$900,000. It has previously imposed fines on other banks.
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 control lapses.
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