SWITZERLAND RAISES AML/CFT GAME AS 1MDB SCANDAL CONTINUES TO HARM ITS BANKS
June 1st, 2019
In April (2019), Switzerland’s highest court (the federal tribunal) ordered that Zurich-based Falcon Private Bank hand over Swiss Francs CHF2.5 million (USD2.5 million to Switzerland’s Financial Market Supervisory Authority (FINMA) for its involvement in the global money laundering (ML) scandal involving state-owned Malaysian investment fund, 1Malaysia Development Bhd (1MDB). *
https://www.bger.ch/ext/eurospider/live/de/php/aza/http/index.php?highlight_docid=aza%3A%2F%2Faza://20-03-2019-2C_422-2018&lang=de&zoom=&type=show_document
It was the ...
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