11 Oct '16, 1am

Singapore shutters Swiss private bank and fines DBS and UBS in 1MDB probe

Singapore’s central bank is shuttering Falcon Private Bank in the city-state on anti-money laundering breaches, the second bank to lose its license amid a probe on fund flows linked to 1Malaysia Development Bhd. or 1MDB. The Monetary Authority of Singapore is withdrawing the merchant bank status of the Swiss private bank and said the local branch manager, Jens Sturzenegger, was arrested by the city-state’s Commercial Affairs Department on Oct. 5. The central bank also fined UBS Group AG and DBS Group Holdings Ltd. The decision on Falcon follows "serious failures in anti-money laundering controls and improper conduct by senior management at the head office in Switzerland as well as the Singapore Branch,” the MAS said. Singapore has vowed stronger action after the central bank found anti-money laundering lapses at financial-services companies linked to 1MDB. The city-state s...

Full article: http://www.bloomberg.com/news/articles/2016-10-11/singapo...

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Singapore shutters Swiss private bank, fines DBS, UBS over 1MDB business

Singapore shutters Swiss private bank, fines DB...

cnbc.com 11 Oct '16, 1am

The Monetary Authority of Singapore (MAS) has ordered Swiss wealth manager Falcon Private Bank to cease operations in the ...

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bloomberg.com 11 Oct '16, 1am

Singapore’s central bank is shuttering Falcon Private Bank in the city-state on anti-money laundering breaches, the second...

Singapore shutters Swiss private bank, fines DB...

cnbc.com 11 Oct '16, 2am

The Monetary Authority of Singapore (MAS) has ordered Swiss wealth manager Falcon Private Bank to cease operations in the ...

MAS shuts down Falcon Private Bank in Singapore...

straitstimes.com 11 Oct '16, 12am

SINGAPORE - The Monetary Authority of Singapore (MAS) announced on Tuesday (Oct 11) that it is withdrawing the merchant ba...

Singapore shuts down Falcon Private Bank, slaps penalties on DBS and UBS after 1MDB probe

Singapore shuts down Falcon Private Bank, slaps...

thestar.com.my 11 Oct '16, 1am

SINGAPORE: The Monetary Authority of Singapore (MAS) announced on Tuesday that it is withdrawing the merchant bank status ...

Singapore Shuts Down Bank, Fines DBS and UBS in...

nytimes.com 11 Oct '16, 3am

SINGAPORE — Singapore directed Swiss wealth manager Falcon Private Bank Ltd to cease operations in the city-state and fine...

Singapore shuts Falcon bank unit, fines DBS and UBS over 1MDB

Singapore shuts Falcon bank unit, fines DBS and...

yahoo.com 11 Oct '16, 1am

By Anshuman Daga and Joshua Franklin SINGAPORE/ZURICH (Reuters) - Singapore's central bank on Tuesday shut down a second S...

Singapore shuts Falcon bank unit, fines DBS and...

reuters.com 11 Oct '16, 1am

SINGAPORE Singapore directed Swiss wealth manager Falcon Private Bank Ltd to cease operations in the city-state and fined ...

Singapore shuts second Swiss private bank amid ...

ft.com 11 Oct '16, 3am

All the benefits of a standard Digital Subscription plus: Unlimited access to all content Instant Insights column for comm...

Singapore fines two big banks and shuts down an...

fortune.com 11 Oct '16, 7am

Singapore Fines Two Big Banks and Shuts Down Another Over 1MDB Scandal Singapore’s central bank on Tuesday shut down a sec...

Singapore directs Falcon Bank to stop operation...

reuters.com 11 Oct '16, 2am

SINGAPORE Singapore directed Swiss wealth manager Falcon Private Bank Ltd to cease operations in the city-state and fined ...

1MDB: Singapore shuts down Swiss Falcon Bank ov...

theguardian.com 11 Oct '16, 2am

Singapore’s central bank has shut down a second Swiss bank under investigation for alleged money laundering activities lin...

1MDB: Singapore shuts down Swiss Falcon Bank ov...

theguardian.com 11 Oct '16, 2am

Singapore’s central bank has shut down a second Swiss bank under investigation for alleged money laundering activities lin...

1MDB: Singapore shuts down Swiss Falcon Bank ov...

theguardian.com 11 Oct '16, 2am

Singapore’s central bank has shut down a second Swiss bank under investigation for alleged money laundering activities lin...

1MDB: Singapore shuts down Swiss Falcon Bank ov...

theguardian.com 11 Oct '16, 2am

Singapore’s central bank has shut down a second Swiss bank under investigation for alleged money laundering activities lin...