11 Oct '16, 7am

Singapore fines two big banks and shuts down another over 1MDB scandal

Singapore Fines Two Big Banks and Shuts Down Another Over 1MDB Scandal Singapore’s central bank on Tuesday shut down a second Swiss bank in the city-state and fined banks DBS and UBS in its biggest crackdown on alleged money-laundering activities connected with Malaysian sovereign fund 1MDB. The Monetary Authority of Singapore (MAS) said in a statement it had ordered Falcon Private Bank’s Singapore branch to cease operating because of “a persistent and severe lack of understanding” of Singapore’s money-laundering controls. It also accused Falcon’s senior management in Switzerland and Singapore of “improper conduct.” In Zurich, the Financial Market Supervisory Authority (FINMA), ordered Falcon to turn over 2.5 million Swiss francs ($2.56 million) in what the watchdog said were illegal profits. It also said it has opened enforcement proceedings against two former Falcon exec...

Full article: http://fortune.com/2016/10/11/1mdb-singapore-dbs-ubs-falc...

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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 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...

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...

Singapore shutters Swiss private bank and fines...

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 ...

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 ...

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 ...

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 second bank linked to 1MDB

rappler.com 11 Oct '16, 5am

Agence France-Presse @afp Published 11:45 AM, October 11, 2016 Updated 11:45 AM, October 11, 2016 The logo of the Monetary...

via @business

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 orders bank closure and fines over 1M...

bbc.co.uk 11 Oct '16, 4am

The Monetary Authority of Singapore has ordered a Swiss merchant bank to close and fined two other banks for breaching ant...

Singapore central bank fines three banks in 1MD...

wsj.com 11 Oct '16, 4am

SINGAPORE—Singapore’s central bank on Tuesday said it would withdraw the license of a Swiss private bank operating in the ...