MAS Raps DBS, StanChart, UBS Over 1MDB Fund Flows

MAS raps DBS, StanChart, UBS over 1MDB fund flows

THE Monetary Authority of Singapore (MAS) has criticised DBS, Standard Chartered Singapore, and UBS Singapore for "control failings" linked to flows from Malaysia's embattled state fund 1MDB, and said it will take "decisive actions" against financial institutions used as conduits for these questionable fund flows. Read more at The Business Times.

US Maps 1MDB Fraud Trail From Kuala Lumpur To Hollywood

Update: US maps 1MDB fraud trail from Kuala Lumpur to Hollywood

SINGAPORE] More than US$3.5 billion travelled a trail of fraud from Malaysia through a web of shell companies, fuelling a spending binge on Monet paintings and luxury real estate in the United States and Britain, with at least US$700 million flowing back into accounts controlled by Malaysia's prime minister.

UBS Said To Have Flagged Suspicious 1MDB Transactions To MAS

UBS said to have flagged suspicious 1MDB transactions to MAS

1MDB scandal: THE BUSINESS TIMES Government & Economy - [ZURICH] UBS Group flagged suspicious transactions linked to 1Malaysia Development Bhd to the Monetary Authority of Singapore, prompting an investigation of the accounts involved, a person familiar with the matter said.. Read more at The Business Times.

Abu Dhabi Fund Denies Guaranteeing 1MDB's Cayman Investments

Abu Dhabi fund denies guaranteeing 1MDB's Cayman investments

KUALA LUMPUR] An Abu Dhabi sovereign fund embroiled in a debt dispute with 1Malaysia Development Bhd (1MDB) said it didn't guarantee any of the Malaysian state company's holdings in a Cayman fund, stirring up more questions on investments that amounted to billions of dollars. Read more at The Business Times.