Featured Malaysia

As scrutiny around governments’ investments increases following the 1MDB saga and the release of the Panama Papers, will SWFs, governments, or national regulators be persuaded of the need for a wide-ranging drive towards greater transparency? Read More
21st September 2018
A total of 21 money laundering charges have been prepared against former Malaysian prime minister Najib Razak in connection with a $681 million dollar transfer into his personal bank account, police said on Thursday. The charges include nine counts of receiving illegal proceeds, five counts of using illegal proceeds and… Read More
14th September 2018
A lawyer representing former Malaysian prime minister Najib Razak was charged with money laundering on Thursday, as anti-corruption agents try to retrieve billions of dollars siphoned off from a scandal-plagued state fund. The charges against Muhammad Shafee Abdullah come as a blow for Najib who is fighting charges of criminal… Read More
11th September 2018
AP — A Singaporean court has ordered the return of 15.3 million Singapore dollars ($11.1 million) linked to the indebted 1MDB Malaysian state investment fund. Law firm Tan Rajah & Cheah said Monday that the misappropriated funds were being transferred to a special 1MDB recovery bank… Read More
27th August 2018
A Malaysian court on Friday granted an application by the government to sell a $250 million (£194.5 million) luxury yacht allegedly bought with money stolen from scandal-tainted state fund 1Malaysia Development Berhad (1MDB). The Cayman Islands-flagged Equanimity was handed over to Malaysia by Indonesian authorities earlier this month after it… Read More
14th August 2018
Malaysia is seeking to repossess a $35 million (£27.3 million) private jet owned by financier Low Taek Jho as part of investigations into a multi-billion dollar scandal at state fund 1MDB, Prime Minister Mahathir Mohamad has said. The financier, also known as Jho Low, bought the Bombardier Global 5000 jet… Read More
10th August 2018
A $250 million superyacht, impounded as part of a hunt for assets linked to the multi-billion dollar investigation into 1Malaysia Development Bhd, arrived at a port in Malaysia on Tuesday about six months after it was seized. The Cayman Islands-flagged Equanimity was first seized in the Indonesian holiday venue of… Read More
8th August 2018
U.S. prosecutors are investigating whether Goldman Sachs Group Inc (GS.N) has any culpability in a Malaysian fraud involving a government fund that had ties to a former bank employee, the New York Times reported on Tuesday. 1Malaysia Development Berhad (1MDB) is at the center of money-laundering investigations in at least… Read More
8th August 2018
Malaysia’s embattled former Prime Minister Najib Razak was charged on Wednesday with three counts of money laundering as part of a probe into money missing from state fund 1Malaysia Development Berhad (1MDB). The charges, read out in a lower court, were related to three electronic transfers amounting to 42 million… Read More
7th August 2018
The U.S. Justice Department wants to suspend its legal efforts to take possession of the superyacht Equanimity, impounded as part of a hunt for assets linked to the multi-billion dollar 1Malaysia Development Bhd (1MDB) scandal. Indonesia handed over the $250 million Equanimity to Malaysia on Monday. The U.S. Justice… Read More
23rd July 2018
Rothschild Bank AG and one of its subsidiaries committed serious violations of anti-moneylaundering rules in relation to 1MDB, the Malaysian sovereign wealth fund, Switzerland’s financial regulator said on Friday. The regulator, FINMA, said in a statement it was nonetheless closing its probe into Rothschild. It will review the steps… Read More
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Germany: Santander bank caught up in major tax evasion investigation

Prosecutors in Germany have launched a probe into the role Spanish bank Santander may have played in a widespread tax fraud scheme. The probe, which has seen the authorities examine the role of other banks, looks at allegations that Santander executed trades that facilitated ‘severe tax evasion’ between 2007 and… Read More

Denmark investigates Nordea Bank over money laundering allegation

Denmark’s state prosecutor has launched a probe into a complaint that Nordea Bank facilitated money laundering. The Danish State Prosecutor for Serious Economic and International Crime declined to name the firm that made the allegations, but said in a tweet: “We can confirm that we have received a report… Read More