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Sovereign Wealth Funds Briefing - Categorized | Compliance/Regulation/Legal, Financials

Where in the 1MDB scandal is Falcon Bank?

Posted on 14 October 2016

First it was BSI Bank. Then came Falcon Private Bank. One after another, Swiss prosecutors are putting banks under scrutiny over the 1MDB scandal. Last Wednesday, the Swiss attorney-general’s office (OAG) announced that it is initiating criminal proceedings against Falcon, after doing the same with BSI on May 23.
The Singaporeans had also acted, with the Monetary Authority of Singapore (MAS) ordering Falcon to close its Singapore unit and pay a S$4.3 million (US$3.11 million) fine. In this instalment of KiniGuide, we take a look at Falcon and how it got into so much trouble……………………………………..Full Article: Source


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VRS - who has written 19873 posts on Opalesque Sovereign Wealth Funds Briefing.


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