US banks told to turn over 1MDB-linked data
JPMorgan Chase, Deutsche Bank, Wells Fargo join other entities working with US officials examining money flows
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
New York
JPMORGAN Chase, Deutsche Bank and Wells Fargo have been asked by US authorities to retain and turn over records that may be related to improper transfers from an embattled Malaysian state fund, according to people familiar with the matter.
The banks aren't targets of the investigation and haven't been accused by the authorities of wrongdoing. As some of the biggest conduits of the global financial system, they join other institutions that have said they're working with US officials examining money flows connected with 1Malaysia Development Bhd (1MDB).
Share with us your feedback on BT's products and services
TRENDING NOW
Ministry of Home Affairs Permanent Secretary Pang Kin Keong to retire
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
Richard Eu on how core values, customers keep Singapore’s TCM chain Eu Yan Sang relevant
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
