Regulators sanction Swiss bank over links to Malaysian government fund
Bank breached anti-money-laundering rules for transactions involving 1MDB, Finma says
Regulators in Switzerland and Singapore have imposed major sanctions against BSI bank over what the Swiss Financial Market Supervisory Authority (Finma) said were transactions involving 1Malaysia Development Berhad (1MDB), an investment fund owned by the Malaysian government.
Swiss authorities have agreed to the takeover of the bank and launched criminal proceedings against it, while the Monetary Authority of Singapore (MAS) intends to withdraw its licence to operate as a merchant bank in
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