Singapore Fines Credit Suisse, UOB Over 1MDB

The transcript discusses the ongoing investigation into Malaysia's 1MDB fund, highlighting the involvement of several banks like Credit Suisse and UBS in money laundering lapses. Singapore has taken significant actions, including closing banks and imposing financial penalties, to maintain its reputation for transparency. The investigation spans multiple countries, with settlements reached, such as with the producers of 'The Wolf of Wall Street'.

Which banks were mentioned as having lapses in anti-money laundering controls related to the 1MDB fund?

• Credit Suisse and UBS

• Bank of America and Citibank

• HSBC and Barclays

• Deutsche Bank and BNP Paribas

What action has Singapore taken in response to the 1MDB scandal?

• Introduced new currency notes

• Reduced taxes on foreign investments

• Closed banks and imposed financial penalties

• Increased interest rates

How has Singapore's reputation been affected by the 1MDB scandal?

• It has improved significantly

• It has been slightly dented

• It has become the top financial hub

• It has been completely unaffected

Which country's Department of Justice reached a settlement related to the film 'The Wolf of Wall Street'?

• United States

• Canada

• Australia

• United Kingdom

In how many countries have investigations related to the 1MDB fund been conducted?

• Only in Malaysia

• 15 countries

• 10 countries or more

• 5 countries