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Singapore inspecting Credit Suisse, others in money laundering probe

The Monetary Authority of Singapore (MAS) plans to conduct an on-site inspection of a local unit of Credit Suisse to determine whether it properly handled the monitoring of wealthy clients after at least one of its customers was charged with money laundering, Bloomberg News reported on Wednesday.

Singapore police in August arrested 10 foreigners as the Asian financial hub investigates one of its biggest cases of suspected money laundering, with assets worth S$2.8 billion ($2 billion) seized.

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