Money laundering: the MPC condemns the BSI bank by way of criminal order : Orishas-finance

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Money laundering: the MPC condemns the BSI bank by way of criminal order

12/03/2024

Source : ORISHAS-FINANCE

Categories: Compliance

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Money laundering: the MPC condemns the BSI bank by way of criminal order

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For matters of aggravated money laundering in the context of the Malaysian fund 1MDB case, the Office of the Attorney General of the Confederation (MPC) has condemned the BSI bank by way of a criminal order.

The criminal order was issued on 11 January, after a six-year investigation. The MPC fined the BSI 4.5 million francs. According to the MPC, money laundering was committed “by several collaborators, in particular by two consultants active in the Singapore office who were also in charge of banking relationships in Lugano linked to the Malaysian sovereign wealth fund.” However, two subsidiaries of the fund, who were civil parties in the proceedings, opposed the sanction.

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