PARIS, (APP/AFP) – Swiss financial regulators announced
Tuesday they have agreed to the takeover and dissolution of Lugano-based BSI Bank, which has been linked to a Malaysian corruption scandal.
The Swiss supervisor FINMA accused merchant bank BSI of “serious
breaches” of money-laundering rules in its dealings with the Malaysian sovereign wealth fund 1MDB, which is at the heart of a financial scandal swirling around Malaysia’s Prime Minister Najib Razak.
Business News
Swiss approve dissolution of scandal-hit bank
