12:14 PM EDT, 10/16/2025 (MT Newswires) -- (Updates with UBS response in the fourth paragraph.)

UBS Group ( UBS ) has increased its screening of the sources of client money in its Asia wealth hubs, pushing some customers towards greater disclosures, Bloomberg said Thursday, citing people familiar with the matter.

The Swiss lender is using Deloitte and KPMG to help analyze client documentation to find any signs of illicit activities including money laundering, the people said, adding that queries are being raised on documents that date back over a decade, Bloomberg reported.

UBS' heightened scrutiny comes after Singapore authorities enhanced regulation for financial services firms in the past year, following a S$3 billion ($2.3 billion) money-laundering scandal in 2023 that involved local and global banks, according to the report.

UBS declined to comment, while Deloitte and KPMG did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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