The violations were discovered during an international investigation of the case about theft of more than a billion dollars from the Fund 1MDB.
Singapore authorities fined two of the British Bank for the sum more than 5,3 million dollars for violation of the rules of combating money laundering during the financial transactions related to Malaysian state Fund 1Malaysia Development Berhad (1MDB).
The local branch of the British Bank Standard Chartered fined 3.65 million dollars, and the branch of the Bank Coutts has to pay 1.7 million for improper screening of clients.
The violations were discovered during an international investigation of the case about theft of more than a billion dollars from the Fund 1MDB, set up to help the Malaysian economy.
Presumably, the theft have a relationship, people close to the Malaysian Prime Minister Najib Razak.
The case of the Fund 1MDB is already being investigated in four countries – USA, Malaysia, Singapore and Switzerland.
Investigators believe that from the Malaysian Fund since its launch in 2009 has been stolen billions of dollars. Some of that money apparently was spent on the purchase of assets in the United States.
In July, the U.S. Department of justice filed a lawsuit demanding the seizure of assets worth about a billion dollars, which may be associated with the “international conspiracy to launder money stolen from 1MDB”.
The lawsuit stated that the theft and money laundering was involved several people, including Malaysian officials.
Among other things, the lawsuit States that the matter is relevant Riza Aziz – the Prime Minister of Malaysia.
The Prime Minister Najib Razak is not mentioned in the lawsuit by name, however, as noted by the media, he apparently appears in the document as “Malaysian official number 1”.
Later this version was confirmed by bi-Bi-si one of the Malaysian Ministers. Najib Razak has denied accusations of involvement in the theft.
Source: Russian service Bi-bi-si