Singapore’s central bank has fined Standard Chartered Bank and Coutts for anti-money laundering breaches related to 1MDB and also plans to bar one prominent former Goldman Sachs banker from working in Singapore’s securities industry for 10 years owing to his involvement in the scandal surrounding the Malaysian state investment fund. The Monetary Authority of Singapore […]

“The ABA voluntary guidance is a joke because there are no ­consequences unless you’re prosecuted and that happens once every five years,” said Bruce Zagaris, an attorney at Berliner Corcoran & Rowe LLP in Washington. When US prosecutors moved this week to seize US$1 billion in ­assets they say were stolen from a Malaysian development […]