Singapore orders BSI bank unit to close as 1MDB probe widens

Singapore orders BSI bank unit to close as 1MDB probe widens

A security officer blocks a directory board showing Swiss bank BSI at their office building in Singapore May 24, 2016. REUTERS/Edgar Su

Singapore ordered BSI‘s operations in the city-state to close, as Switzerland started criminal proceedings against the private bank, in the biggest international crackdown on financial entities dealing with a troubled Malaysian state fund.

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