Swiss Regulator Criticizes JP Morgan for Action in 1MDB Case

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Friday, January 5, 2018
Author: 
Bruce Zagaris
Volume: 
34
Issue: 
1
Abstract: 

On December 21, 2017, the Swiss Financial Market Supervisory Authority (FINMA) finished enforcement proceedings by concluding that the bank seriously violated anti-money laundering regulations by failing to screen adequately transactions and business relationships booked in Switzerland with respect to the Malaysian sovereign wealth fund (1MDB) and one of its business partners.