trending Market Intelligence /marketintelligence/en/news-insights/trending/vkDGUKUe4CSLY7lzovyhdA2 content esgSubNav
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us
In This List

Report: UBS reports 1MDB-related suspicious transactions to Singapore central bank

Banking Essentials Newsletter December Edition Part 2

Banking Essentials Newsletter - November Edition

University Essentials | COVID-19 Economic Outlook in Banking: Rates and Long-Term Expectations: Q&A with the Experts

Estimating Credit Losses Under COVID-19 and the Post-Crisis Recovery


Report: UBS reports 1MDB-related suspicious transactions to Singapore central bank

The Monetary Authority of Singapore started an investigationof some accounts of UBS GroupAG after the bank reported suspicious transactions related to1Malaysia Development Bhd., or 1MDB, Bloomberg News reported July 13, citing"a person familiar with the matter."

The transactions were not immediately flagged as suspiciousby UBS, said the person. An account of a 1MDB subsidiary held at had transferred at least US$1.24billion to a UBS account in Singapore in 2014, according to blog SarawakReport.

1MDB is at the center of a number of in Malaysia and otherjurisdictions over allegations of financial irregularities. In Singapore, theMAS had said it was conducting supervisory reviews of several financialinstitutions. The MAS had also ordered BSI to close its operations in the city statefor its involvement in money laundering.