UBS, Citigroup, and Local Banks Hold Millions in Deposits

In Singapore’s $3 billion money laundering scandal, Credit Suisse (now part of UBS) and Citigroup hold the largest deposits, with DBS, OCBC, and UOB also significantly exposed. The case involves seized assets, including luxury properties, collectibles, and over S$370 million in bank accounts. While some assets have proven difficult to sell amid a property market downturn, authorities are working to manage these complex forfeitures. Other international banks, such as Standard Chartered and Julius Baer, also face scrutiny.