Swiss Economicblogs.org
Authorities in Switzerland and Singapore are punishing BSI, the private bank based in the Ticino region of Switzerland, for alleged money-laundering offenses, shutting their activities in Singapore and seizing part of its profits. Switzerland’s attorney general has opened criminal proceedings against BSI Bank in connection with alleged money-laundering and corruption by Malaysia’s statement investment fund 1MDB. In a separate move, the country’s financial market regulator said the bank was...
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