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Falcon Private Bank Banned from Taking Singapore Business

Falcon Private Bank has been blocked by the financial regulator of Singapore from taking on new assets and funds in Singapore due to its involvement with 1MDB. It is now under investigation by the Monetary Authority of Singapore (MAS) for a possible breach of anti money laundering rules in handling transactions linked to the Malaysian state fund 1MDB.

News Source: Finews Asia

 

About Falcon Private Bank

Falcon Bank
Falcon Bank

Falcon Private Bank is a Swiss private banking boutique with 50 years of expertise in wealth management. Founded in1965 as Ueberseebank, the bank was renamed AIG Private Bank in 1998. Following the change of ownership, the name Falcon Private Bank was launched in 2009 – owned by International Petroleum Investment Company (IPIC), one of the world’s leading sovereign wealth funds from Abu Dhabi. Falcon Private Bank provides services to private clients and wealthy families from its headquarters in Zurich, and its branches and representative offices in London, Singapore, Abu Dhabi, and Dubai.

  • Origin : Zurich, Switzerland
  • Assets : CHF 3.47 billion (2014)
  • Revenue : –
  • Employees : approx 300 (2014)

Official Website: www.falconpb.com

News & Media: Press Release

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Updated on 8th August 2016

 



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