143-year old Swiss bank dissolved in 1MDB probe
Swiss financial regulators FINMA on Tuesday approved the dissolution of the 143-year-old BSI bank on allegations of facilitating the laundering $4 billion of Malaysian government funds through the state investment fund 1MDB. The regulator also ordered the seizure of $96 million of BSI's "illegally generated profits" while Singapore ordered the bank to halt all its operations in the country.