| Authorities in Switzerland and Singapore took action against Swiss private bank BSI SA for allegedly failing to prevent suspected money laundering and bribery related to its dealings with a Malaysian development fund.
Switzerland’s Office of the Attorney General opened criminal proceedings against the bank, and the country’s Financial Market Supervisory Authority ordered BSI to pay back 95 million Swiss francs ($96 million) in profit and began enforcement proceedings against two unidentified former managers...............................................Full Article: Source
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