Singapore ejects 1MDB-linked BSI bank

SINGAPORE: Singapore’s central bank on Tuesday said it was kicking out Switzerland’s BSI Bank, which has been linked to a global money-laundering scandal that has embroiled neighboring Malaysia’s Prime Minister Najib Razak.

In the toughest legal action so far in the crisis rocking Malaysian state fund 1MDB, Switzerland also disclosed it had launched criminal proceedings against the parent firm BSI SA for “deficiencies” in its internal organization.