The Monetary Authority of Singapore (MAS) plans to conduct an on-site inspection of a local unit of Credit Suisse to determine whether it properly handled the monitoring of wealthy clients after at least one of its customers was charged with money laundering, Bloomberg News reported on Wednesday.
Officials from Singapore's financial regulator will review documents and interview personnel from Credit Suisse and other banks within weeks, the report said, citing people familiar with the situation.
MAS referred Reuters News to Singapore Minister of State Alvin Tan's statement made at Parliament on October 3, which said that MAS was conducting supervisory reviews and inspections on financial institutions with a nexus to this case.
Credit Suisse did not immediately respond to a request for comment.
Singapore police in August arrested 10 foreigners as the Asian financial hub investigates one of its biggest cases of suspected money laundering, with assets worth S$2.8 billion ($2 billion) seized.
(Published 18 October 2023, 04:32 IST)
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