The trove of documents shows that the banks allowed $2tr to flow through the financial system despite having flagged the transactions as suspicious.
September 22, 2020The assets recovered include luxury real estate in Beverly Hills, New York and London, a Kentucky maintenance company, and a 1927 promo poster for the film “Metropolis”.
September 6, 2020Fraudulent activity brought on by Covid-19 related initiatives may result in enforcement actions later in the year and into 2021, says Fenergo's Rachel Woolley.
August 20, 2020To understand the money laundering risks they face, financial firms need a robust and scalable approach to PEP identification and due diligence, says Refinitiv’s Michael Meadon.
August 20, 2020The former Coutts & Co banker approved a $700mn transfer request from Jho Low, the alleged mastermind behind the 1MDB scandal, despite repeated red flags.
August 3, 2020Najib Razak was found guilty of three counts of criminal breach of trust, three counts of money laundering and one count of abuse of power.
July 29, 2020Malaysia will drop all criminal charges against Goldman Sachs in exchange for a $2.5bn cash payment and help recovering an additional $1.4bn from 1MDB-related assets seized globally.
July 24, 2020A six-member team from Goldman Sachs has entered Malaysia to resume negotiations on a 1MDB settlement. A deal is believed to be within reach.
July 22, 2020Falcon Private Bank was forced to shut down its Singapore operations in 2016. Nearly four years later, it has decided to exit private banking in Switzerland.
May 13, 2020The funds includes proceeds from assets that Malaysia financier Jho Low allegedly bought with stolen 1MDB money before his $700mn forfeit last year.
April 16, 2020