August 17, 2016
Falcon is one of the banks under investigation by the Monetary Authority of Singapore (MAS) for a possible breach of anti-money laundering rules in handling transactions linked to scandal-hit Malaysian state fund 1MDB.
Falcon, which is owned by Abu Dhabi sovereign wealth fund IPIC, did not immediately respond to an emailed request for comment, while MAS declined to comment on the report. Falcon has previously said it is cooperating with Singapore’s investigators.