What is it about?
The 1MDB corruption scandal has been one of the most complex fraud and money laundering schemes to date. High-level corruption that involved top management and even the Malaysian prime minister caused the sovereign wealth fund to collapse and international authorities to investigate a number of actors and entities involved in the scandal. This article examines how Swiss banks facilitated the money laundering scheme around 1MDB.
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Why is it important?
The Swiss banking sector, and particularly banking secrecy played a significant role in the 1MDB corruption scandal. The connection has thus far not been discussed in depth by other research.
Read the Original
This page is a summary of: The 1MDB case and the Swiss banking sector, Journal of Money Laundering Control, June 2020, Emerald, DOI: 10.1108/jmlc-04-2020-0037.
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