Singapore Puts 1MDB-Linked Banks on Notice: We’re Not Done

Singapore’s central bank, which on Thursday singled out banks including UBS Group AG for lapses related to Malaysia’s scandal-riven investment fund, also put other financial firms on notice that it isn’t done probing the sector. In a statement Thursday, the Monetary Authority of Singapore rebuked UBS, DBS Group Holdings Ltd. and two other banks for weaknesses in anti-money laundering controls related to transactions tied to 1Malaysia Development Bhd. MAS is still examining “certain other” financial institutions, it said without naming them, adding that details will be provided as it continues investigations that began in March 2015.