Another bank punished over 1MDB scandal, fined RM43m

Modified 22 Jun 2017, 2:01 pm

Edmond de Rothschild private bank has become the latest financial institution to be punished over regulatory lapses in relations to money laundering and the 1MDB affair.

According to Luxembourgish-daily Luxembourg Wort, Edmond de Rothschild was slapped with EUR8.985 million (RM43 million) fine.

"The Luxembourg Financial Sector Supervisory Commission (CSSF) communicated the conclusion of the administrative procedure to Edmond de Rothschild (Europe) on June 21," the private bank was quoted as saying in a statement.

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