Malaysian 1 MDB corruption scandal

Prosecutors examine role of Swiss banks in Malaysian 1 MDB corruption scandal

Swiss Attorney General’s Office will decide soon if criminal proceedings will be opened

BERN (SWITZERLAND) The Swiss Attorney General’s Office is currently examining a complaint under criminal law against Swiss banks and businesses over their role in an international corruption scandal involving Malaysian Prime Minister Najib Razak. This was confirmed on Monday by the Attorney General of Switzerland’s Office in Bern.

“We are in touch with the authorities in Kuala Lumpur and the Money Laundering Reporting Office Switzerland (MROS) over this matter”, a spokesperson said to Geneva newspaper Le Temps.

Swiss federal prosecutors are expected to decide in the coming weeks if they will open criminal proceedings against Swiss banks, businesses and individuals over their involvement in the matter.

The Bruno Manser Fund lodged complaints under criminal law against the Swiss subsidiaries of RBS Coutts, JP Morgan (Suisse) and the Geneva branch of PetroSaudi International for alleged money-laundering and other criminal offences when dealing with the Malaysian investment fund 1MDB.

Last January, Swiss prosecutors said they would not look into the matter for a lack of evidence. After leaked documents published by Sarawak Report substantiated the role of Swiss banks and businesses in the scandal, the Bruno Manser Fund approached the prosecutors and the Swiss bank regulator FINMA again.

The Bruno Manser Fund calls on the Swiss authorities to also investigate the legal compliance of Singapore subsidiaries of Swiss banks Falcon Private Bank and BSI with Swiss banking laws.

According to the Swiss penal code, Swiss banks and businesses are forbidden to get involved in money-laundering or corruption anywhere in the world.

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