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Swiss find serious shortcomings at JPMorgan in 1MDB case

Reuters
Reuters12/22/2017 12:46 AM GMT+08  • 3 min read
Swiss find serious shortcomings at JPMorgan in 1MDB case
(Dec 21): Swiss financial watchdog FINMA said on Thursday the Swiss subsidiary of US bank JPMorgan had committed serious anti-money laundering breaches in relation to Malaysian sovereign wealth fund 1MDB.
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(Dec 21): Swiss financial watchdog FINMA said on Thursday the Swiss subsidiary of US bank JPMorgan had committed serious anti-money laundering breaches in relation to Malaysian sovereign wealth fund 1MDB.

The case adds to the political storm that has raged for more than two years over the scandal at 1Malaysia Development Berhad (1MDB), the focus of money-laundering investigations in at least six countries including Singapore, Switzerland and the United States.

Malaysian Prime Minister Najib Razak, who chaired 1MDB’s advisory board, has denied any wrongdoing.

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