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'.

What is the significance of the quote from Ravi Menon regarding the financial center?

What international actions have been taken in relation to the One MDB scandal?