11 Oct '16, 7am

Singapore closes, fines bank for Malaysian 1MDB Fund links

Singapore closes, fines bank for Malaysian 1MDB Fund links

SINGAPORE (AP) — Singaporean and Swiss regulators said Tuesday that investigations showed Falcon Private Bank breached money laundering regulations in its dealings with the indebted Malaysian state fund 1MDB. The Monetary Authority of Singapore ordered the private bank to close down in the city-state and pay a fine of 4.3 million Singapore dollars ($3.12 million) for violations that included not filing suspicious transaction reports and failing to alert authorities about irregular activity in customers’ accounts. The Singapore branch manager of Falcon Private Bank, Jens Sturzenegger, was arrested on Oct 6, it said in a statement. The regulator cited “serious failures in anti-money laundering controls and improper conduct by senior management” in Switzerland and Singapore. Most Read Stories State GOP leader Susan Hutchison draws anger with response to Trump tape What the na...

Full article: http://www.seattletimes.com/business/singapore-closes-fin...

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Singapore closes Falcon Private Bank for Malays...

seattletimes.com 11 Oct '16, 3am

SINGAPORE (AP) — Singapore regulators ordered the closure Tuesday of Falcon Private Bank, citing alleged slack controls fo...

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 orders bank closure and fines over 1M...

bbc.co.uk 11 Oct '16, 3am

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

BBC News - Singapore orders bank closure and fi...

bbc.com 11 Oct '16, 3am

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 ...

Singapore shuts second Swiss bank over scandal-...

uk.businessinsider.com 11 Oct '16, 7am

SINGAPORE (Reuters) - The Monetary Authority of Singapore (MAS) has asked Swiss wealth manager Falcon Private Bank Ltd to ...

Singapore shuts second Swiss bank over scandal-...

uk.businessinsider.com 11 Oct '16, 7am

SINGAPORE (Reuters) - The Monetary Authority of Singapore (MAS) has asked Swiss wealth manager Falcon Private Bank Ltd to ...

via @WSJ

wsj.com 11 Oct '16, 1am

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

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 ...