News and commentary about white-collar crime, enforcement, and compliance
Harry Cassin
Publisher and Editor
Andy Spalding
Senior Editor
Jessica Tillipman
Senior Editor
Bill Steinman
Senior Editor
Richard L. Cassin
Editor at Large
Elizabeth K. Spahn
Editor Emeritus
Cody Worthington
Contributing Editor
Julie DiMauro
Contributing Editor
Thomas Fox
Contributing Editor
Marc Alain Bohn
Contributing Editor
Bill Waite
Contributing Editor
Russell A. Stamets
Contributing Editor
Richard Bistrong
Contributing Editor
Eric Carlson
Contributing Editor
Singapore’s central bank Tuesday fined Credit Suisse and United Overseas Bank for breaching anti-money laundering rules in connection with Malaysian sovereign wealth fund 1Malaysia Development Berhad.
The Monetary Authority of Singapore (MAS) said in a statement it fined Credit Suisse about $505,000 and UOB about $650,000.… Continue Reading
Singapore authorities are banning the former director of Goldman Sachs in Singapore for ten years for his role in the 1MDB scandal.
The Monetary Authority of Singapore said Friday it served notice of its intention to issue “a Prohibition Order” against Tim Leissner.… Continue Reading
Prosecutors in the Singapore trial of a former BSI banker said this week the defendant and other former employees of the Swiss bank helped launder up to $2.3 billion looted from the Malaysia sovereign wealth fund 1MDB.… Continue Reading
Singapore’s bank regulator Tuesday shut down a second bank for “serious failures in anti-money laundering controls and improper conduct” linked to Malaysia’s 1MDB fund.
The Monetary Authority of Singapore (MAS) said Falcon Bank “demonstrated a persistent and severe lack of understanding of MAS’ AML requirements and expectations.”… Continue Reading
Singapore said Thursday it has seized property and bank accounts linked to money allegedly diverted from Malaysia’s sovereign wealth fund, 1Malaysia Development Berhad.
The seized property and accounts are worth about $177 million, Singapore authorities said.… Continue Reading