MAS withdrew BSIS’ licence in May 2016 due to serious and repeated breaches of AML/CFT requirements.
Raj Sriram, former deputy CEO and head of private banking of BSI Bank, Singapore Branch (BSIS), has been issued a 24-month conditional warning from the police. He was also given a 10-year prohibition order by the Monetary Authority of Singapore.
Malaysian Jho Low, widely seen as the master mind of the 1MDB fund flows, was a client of BSI Singapore, a by now defunct private bank.
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