The government of Singapore has revoked the license of the branch of the Swiss Bank BSI. They suspect the financial organization of involvement in money laundering. For the first time in 32 years, Singapore has closed the structure of a foreign Bank. On Tuesday, may 24, reports TASS with reference to the materials of the Monetary authority of Singapore.
“In connection with the discovery of serious violations in the sphere of struggle against money-laundering, inadequate monitoring of Bank management, and also revealed gross violations by staff of the organization was this decision taken”, — quotes Agency the extract from the message of the regulator.
While BSI fined in the amount of 9.6 million dollars. To business joined the Prosecutor’s office of Singapore. She is going to interview six employees of the Bank. In addition, the Swiss authorities began a criminal investigation against BSI.
The last time the Monetary authority has adopted such a measure in 1984.
A branch of the BSI appeared in Singapore in 2005. The U.S. justice Department in 2015 reported that BSI has helped its American clients evade taxes.
