Singapore Shocks its Neighbor to the North

There is more than meets the eye in the Singapore investigation into 1MDB and the subsequent forced closure by the Monetary Authority of Singapore (MAS) of the local operations of Swiss private bank BSI. This was the first time in decades that the MAS has resorted to such actions. BSI has also been heavily fined and its former executives are under criminal investigation. Established in 1873, BSI was previously known as Banca della Szizzera Italiana.

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