14.10.2016 - Swiss bank ‘moved’ $US3.8bn for 1MDB
Switzerland’s Office of the Attorney-General has expanded its scrutiny of Malaysian public investment fund 1Malaysia Development, or 1MDB, by opening a criminal investigation into a small Swiss lender recently penalised for its ties to the fund. The Swiss lawyer general’s ­office said that internal “deficiencies” at Zurich-based Falcon ­Private Bank might have caused it to fail to prevent alleged money laundering associated with 1MDB. The Swiss authorities opened a broad 1MDB investigation last year, and have previously said they placed another Swiss bank, BSI, under a related criminal probe. The status of that investigation remains unclear............................................Full Article: Source
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