The Monetary Authority of Singapore has levied fines totaling $21.5 million on nine financial institutions, including UBS and Citigroup, following a thorough investigation into the country's largest money laundering case. The probe, which resulted in the seizure of assets such as luxury properties and cryptocurrency, led to the conviction of ten individuals and the charging of two former bankers. Credit Suisse's local unit, now part of UBS, received the largest fine of $5.8 million for deficiencies in its anti-money laundering controls. The firms involved are taking corrective measures, and the regulator will closely monitor their progress.