Singapore financial sector under scrutiny for gambling-related money laundering

The Monetary Authority of Singapore will investigate Credit Suisse and other banks

Singapore.- The Monetary Authority of Singapore (MAS) has announced that it will conduct an investigation into the country’s financial sector for possible money laundering linked to the gambling industry. According to local media, the investigation will include Credit Suisse and other domestic and international banks and financial institutions. 

The origin of the investigation is linked to an operation that resulted in the arrest of 10 people from an alleged gambling ring. Five of those have appeared in court, where one of them, Su Jianfeng, provided information about participants in the operation.

See also: Man jailed for illegal bets on Singapore Pools games