In Historic First, Singapore Shuts Local Private Bank Due To “Worst Gross Misconduct” Is Has Ever Seen

Tuesday, May 24, 2016
By Paul Martin

by Tyler Durden
ZeroHedge.com
05/24/2016

Over one year after the collapse of 1MDB, aided and abetted by none other than Goldman Sachs, officials have finally started to piece together the fund flows, and BSI was the first casualty: “BSI Bank is the worst case of control lapses and gross misconduct that we have seen in the Singapore financial sector,” Ravi Menon, managing director of MAS, said in the statement. “It is a stark reminder to all financial institutions to take their anti-money laundering responsibilities seriously.”

The Rest…HERE

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