2016 will go down as an ugly year for Asian private banking and the fight against money laundering. Two lenders lost their Singapore licences, others received hefty fines and private bankers were prosecuted. For the most part, the common denominator has been Malaysia sovereign fund 1MDB and the multi-jurisdictional investigation into the misuse of funds. Asian Private Banker rounds up the industry’s most inglorious…
Private banking’s (not so) FINEst moments in 2016
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