Compliance
Singapore Jails Second BSI Private Banker Amid 1MDB Scandal

Yvonne Seah will join her former boss in jail.
A Singapore court has sentenced a second BSI private banker to
prison amid the city-state's ongoing investigation into an
alleged multibillion-dollar money laundering scheme at Malaysia's
state-owned fund.
Yvonne Seah -
whose former boss, Yak Yew Chee, was sentenced to 18 week
imprisonment last month over similar charges - last week week
pleaded guilty to two charges or forgery and one charge of
failing to report a suspicious transaction.
She was sentenced to two weeks imprisonment and slapped with a
fine of S$10,000 ($6,930). One additional forgery charge and
three additional charges of failing to report suspicious
transactions were also taken into consideration by in sentencing
but not pursued independently by the prosecution team.
Seah will join Chee, who is now expected to assist in financial
watchdogs' investigations, in prison for their roles in managing
accounts for the 1MDB fund at the Singapore branch of Swiss bank
BSI. The fund is currently the subject of money laundering
investigations in at least six countries, including Switzerland,
Singapore and the US.
Earlier this year,
BSI and Falcon Bank were both kicked out of Singapore amid
the country's biggest crackdown on alleged money laundering
connected to 1MDB. The matter has also seen authorities in
Switzerland, the US and Luxembourg become involved in
investigations.