The Business Times
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Swiss private bank Falcon blocked from new S'pore business

Published Wed, Aug 17, 2016 · 09:50 PM

    Zurich

    THE Monetary Authority of Singapore (MAS) has blocked Swiss private bank Falcon from taking on new business in Singapore, reported Swiss newspaper Finanz und Wirtschaft on Wednesday.

    Falcon, a bank under probe by the MAS for a possible breach of anti-money laundering rules in handling transactions linked to scandal-hit Malaysian state fund 1MDB, is owned by Abu Dhabi sovereign wealth fund International Petroleum Investment Company (Ipic).

    Monetary Authority of Singapore

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