Money Laundering Bulletin

Timon Molloy

Document

JP Morgan Suisse pays CHF3m for role in laundering 1MDB funds

The Swiss arm of US bank JP Morgan must pay CHF3 million (US$4.1 million) for control failures that enabled laundering of around CHF174 million (US$217 million) embezzled from the Malaysian sovereign wealth fund 1Malaysia Development Berhad (1MDB).

The Swiss arm of US bank JP Morgan must pay CHF3 million (US$4.1 million) for control failures that enabled laundering of around CHF174 million (US$217 million) embezzled from the Malaysian sovereign wealth fund 1Malaysia Development Berhad (1MDB).

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