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1MDB breaches: Coutts ordered to pay by Swiss watchdog

Friday, February 3, 2017 - 05:50

Zurich

PRIVATE bank Coutts & Co Ltd was ordered to pay 6.5 million Swiss francs (S$9.3 million) by Swiss watchdog Finma on Thursday for breaching money laundering regulations in its relationships with scandal-tainted Malaysian sovereign wealth fund 1MDB.

"The bank failed to

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