Falcon Private Bank faces Swiss criminal probe in 1MDB case

Zurich

SWISS federal prosecutors have opened criminal proceedings against Zurich-based Falcon Private Bank for allegedly failing to prevent suspected money laundering linked to 1MDB, the scandal-hit Malaysian state fund, prosecutors said on Wednesday.

Falcon becomes the second Swiss bank after BSI to face a criminal investigation by Switzerland's Office of the Attorney General (OAG) over links to 1Malaysia Development Berhad (1MDB).