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Tuesday, 11 October 2016

How Falcon Ignored the 1MDB Red Flags - Bloomberg

How Falcon Ignored the 1MDB Red Flags - Bloomberg:

"The message to employees at Falcon Private Bank’s Singapore branch was clear: process the transactions, and get them done on time.
“Head Office is watching you,” one of the bank’s senior managers warned.
The correspondence is part of what Swiss authorities alleged on Tuesday were “serious” breaches of anti-money laundering rules in Falcon’s dealings with 1Malaysia Development Bhd. -- the country’s troubled state investment company -- and a “young Malaysian businessman” with ties to the government.
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