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1MDB is the scandal that keeps on taking. Having crippled institutional and political trust in Malaysia, brought down senior figures across the Middle East and triggered intensive investigations from Switzerland to the US, it has now given Singapore’s private banking industry its greatest test in a generation.
On October 11, the Monetary Authority of Singapore threw Falcon Bank out of the country – the second bank to be closed down over 1MDB connections, after BSI in May.
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