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

Singapore orders Falcon Bank unit to shut down, fines DBS and UBS

reuters.com 11 Oct '16, 1am

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

SINGAPORE Singapore directed Swiss wealth manager Falcon Private Bank Ltd to cease operations in the city-state and fined top local lender DBS Bank and UBS AG over lapses in its biggest crackdown on entities dealing with Malaysian sovereign fund 1MDB. The moves come after the Monetary Authority of Singapore (MAS) announced the shutdown of Swiss private bank BSI's local unit in May. It subsequently charged people in connection with the probe and froze assets linked to 1MDB. BSI was the first bank to be ordered shut in Singapore since 1984. "Falcon Bank has demonstrated a persistent and severe lack of understanding of MAS' AML (anti money laundering) requirements and expectations," MAS said in a statement on Tuesday. "Taking into account the totality of Falcon Bank's conduct, MAS' assessment is that the merchant bank will be unable to comply with these requirements and expec...

Full article: http://www.reuters.com/article/us-malaysia-scandal-falcon...

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@malcscot » 19 Oct '16, 8am
Part 11MM: Singapore shuts Falcon bank unit, fines DBS and UBS over 1MDB [link] via @Reuters
@Rsmcutler » 12 Oct '16, 11pm
Singapore shuts Falcon bank unit, fines DBS and UBS over 1MDB [link] via @Reuters
@krishnenduc » 12 Oct '16, 10am
Singapore shuts Falcon bank unit, fines DBS and UBS over 1MDB [link] via @Reuters
@NewsproOnline » 12 Oct '16, 6am
Singapore shuts Falcon bank unit, fines DBS and UBS over 1MDB [link] via @Reuters #Falcon #Bank #finance #1MDB
@keatingetom » 12 Oct '16, 4am
Following @FATFNews review Singapore pledged further AML steps; now shuts Falcon bank unit over 1MDB failings [link]
@Nick_Wilko_CC » 11 Oct '16, 9pm
RT @Cognia_Adam: Singapore shuts Falcon bank unit, fines DBS and UBS over 1MDB - [link] [link]
@sporkette » 11 Oct '16, 7pm
Singapore shuts Falcon bank unit, fines DBS and UBS over 1MDB [link] via @Reuters
@timelivenews » 11 Oct '16, 6pm
Singapore shuts Falcon bank unit, fines DBS and UBS over 1MDB [link] via @Reuters
@marvinjr » 11 Oct '16, 5pm
Singapore shuts Falcon bank unit, fines DBS and UBS over 1MDB [link]
@sound_finance » 11 Oct '16, 2pm
Singapore directs Falcon Bank to stop operations in Singapore [link]
@mohdbadr » 11 Oct '16, 12pm
RT @husseinshoboksh: Singapore shuts Falcon bank unit, fines DBS and UBS over 1MDB [link] via @Reuters
@ASEANations » 11 Oct '16, 12pm
Singapore shuts Falcon bank unit, fines DBS and UBS over 1MDB - Reuters [link] #Singapore
@Cikujadug » 11 Oct '16, 12pm
Crave for News: Singapore orders Falcon Bank unit to shut down, fines DBS and UBS [link]
@CraveForNews » 11 Oct '16, 12pm
Singapore orders Falcon Bank unit to shut down, fines DBS and UBS [link] [link]
@zesty_finance » 11 Oct '16, 11am
#UPDATE 1-Singapore orders Falcon Bank unit to shut down, fines #DBS and #UBS [link] [link]
@Cognia_Adam » 11 Oct '16, 11am
Singapore shuts Falcon bank unit, fines DBS and UBS over 1MDB - [link] [link]
@nateraymond » 11 Oct '16, 10am
Singapore shuts Falcon bank unit, fines DBS and UBS over 1MDB @Reuters [link]
@Fractaurean » 11 Oct '16, 10am
Singapore shuts Falcon bank unit, fines DBS and UBS over 1MDB [link]
@samhorsepool » 11 Oct '16, 9am
RT @RiskManagement: Singapore's central bank has shut down a second Swiss bank and fined banks DBS and UBS. [link] #moneyl…
@RiskManagement » 11 Oct '16, 9am
Singapore's central bank has shut down a second Swiss bank and fined banks DBS and UBS. [link] #moneylaundering
@iamkelvinlee » 11 Oct '16, 9am
Don't mess about in the land of the Singapore Sling. #1MDB #risk #compliance #moneylaundering [link]
@IndpenMarketing » 11 Oct '16, 9am
Singapore shuts Falcon bank unit, fines DBS and UBS over 1MDB [link] via @Reuters
@Dhanarajtweet » 11 Oct '16, 9am
Singapore shuts Falcon bank unit, fines DBS and UBS over 1MDB [link]
@GlaciarBlue » 11 Oct '16, 9am
Singapore shuts Falcon bank unit, fines DBS and UBS over 1MDB [link] vía @Reuters
@PrevInvest_Adv » 11 Oct '16, 9am
Singapore shuts Falcon bank unit, fines DBS and UBS over 1MDB [link] via @Reuters
@husseinshoboksh » 11 Oct '16, 9am
Singapore shuts Falcon bank unit, fines DBS and UBS over 1MDB [link] via @Reuters
@fraznadeem2 » 11 Oct '16, 8am
Singapore shuts Falcon bank unit, fines DBS and UBS over 1MDB - Reuters [link]
@MB_Reuters » 11 Oct '16, 8am
Singapore shuts Falcon bank unit, fines DBS and UBS over 1MDB [link] via @Reuters
@VM___MKT » 11 Oct '16, 7am
#MobileMarketing Singapore shuts Falcon bank unit, fines DBS and UBS over 1MDB #ecommerce #DigitalPayments [link] …
@tukreht » 11 Oct '16, 7am
RT @ReutersBiz: Singapore shuts Falcon bank unit, fines DBS and UBS over 1MDB [link] by @AnshumanDaga and @ReutersJF
@Politwital » 11 Oct '16, 7am
RT ReutersBiz: Singapore shuts Falcon bank unit, fines DBS and UBS over 1MDB [link] by AnshumanDaga and ReutersJF
@nikita_jain_ » 11 Oct '16, 7am
Singapore shuts Falcon bank unit, fines DBS and UBS over 1MDB [link] by AnshumanDaga and ReutersJF
@LloydZiel » 11 Oct '16, 7am
RT ReutersBiz: Singapore shuts Falcon bank unit, fines DBS and UBS over 1MDB [link] by AnshumanDaga and ReutersJF
@LebbosBarbara » 11 Oct '16, 7am
RT ReutersBiz: Singapore shuts Falcon bank unit, fines DBS and UBS over 1MDB [link] by AnshumanDaga and ReutersJF
@alpepinnazzo » 11 Oct '16, 7am
Singapore shut down a 2nd Swiss bank & fined DBS & $UBS in biggest crackdown on alleged 1MDB money-laundering [link] $EWS
@Vizo_inc » 11 Oct '16, 7am
RT Reuters: RT ReutersBiz: Singapore shuts Falcon bank unit, fines DBS and UBS over 1MDB [link] by AnshumanDaga and Reute…
@BetterChoiceLaw » 11 Oct '16, 7am
Singapore shuts Falcon bank unit, fines DBS and UBS over 1MDB [link]
@mediacopaz » 11 Oct '16, 7am
Reuters: RT ReutersBiz: Singapore shuts Falcon bank unit, fines DBS and UBS over 1MDB [link] by AnshumanDaga and ReutersJF
@InvestingLatest » 11 Oct '16, 7am
ReutersBiz: Singapore shuts Falcon bank unit, fines DBS and UBS over 1MDB [link] by AnshumanDaga and ReutersJF
@freegoldkiwi » 11 Oct '16, 7am
RT @AnanthalakshmiA: Singapore shuts Falcon bank unit, fines DBS and UBS over 1MDB [link] via @Reuters
@ChaviztaNews » 11 Oct '16, 7am
Reuters: RT ReutersBiz: Singapore shuts Falcon bank unit, fines DBS and UBS over 1MDB [link] by AnshumanDaga and ReutersJF
@loveisgod379 » 11 Oct '16, 7am
RT ReutersBiz: Singapore shuts Falcon bank unit, fines DBS and UBS over 1MDB [link] by AnshumanDaga and ReutersJF
@NarrendraM » 11 Oct '16, 7am
RT ReutersBiz: Singapore shuts Falcon bank unit, fines DBS and UBS over 1MDB [link] by AnshumanDaga and ReutersJF
@GCC_legal » 11 Oct '16, 7am
RT ReutersBiz: Singapore shuts Falcon bank unit, fines DBS and UBS over 1MDB [link] by AnshumanDaga and ReutersJF
@UpdateFx » 11 Oct '16, 7am
Singapore shuts Falcon bank unit, fines DBS and UBS over 1MDB [link] by AnshumanDaga and ReutersJF
@phaxyn » 11 Oct '16, 7am
Reuters: RT ReutersBiz: Singapore shuts Falcon bank unit, fines DBS and UBS over 1MDB [link] by AnshumanDaga and ReutersJF
@marxnd » 11 Oct '16, 7am
RT @ReutersBiz: Singapore shuts Falcon bank unit, fines DBS and UBS over 1MDB [link] by @AnshumanDaga and @ReutersJF
@saeedhas » 11 Oct '16, 7am
RT @EDanubrata: Singapore shuts Falcon bank unit, fines DBS and UBS over 1MDB [link] via @Reuters
@ReutersBiz » 11 Oct '16, 7am
Singapore shuts Falcon bank unit, fines DBS and UBS over 1MDB [link] by @AnshumanDaga and @ReutersJF
@AnanthalakshmiA » 11 Oct '16, 7am
Singapore shuts Falcon bank unit, fines DBS and UBS over 1MDB [link] via @Reuters