Singapore says shutting down second bank linked to 1MDB

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Singapore's central bank shuts down Swiss Falcon Private Bank's operations in the city-state because of 'serious lapses in anti money laundering controls'. AFP File Photo

Singapore’s central bank shuts down Swiss Falcon Private Bank’s operations in the city-state because of ‘serious lapses in anti money laundering controls’. AFP File Photo

SINGAPORE: Singapore’s central bank on Tuesday shut down a second Swiss bank under investigation for alleged money laundering activities linked to Malaysian state fund 1MDB.

The Monetary Authority of Singapore (MAS) said it had ordered Falcon Bank to cease its operations in the city-state because of serious lapses in anti money laundering controls. – AFP