Singapore closes Falcon Bank, arrests local manager for 1MDB-linked offenses


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.










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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.
Singapore said Thursday it has seized property and bank accounts linked to money allegedly diverted from Malaysia's sovereign wealth fund, 1Malaysia Development Berhad.