ZURICH May 30 Swiss financial watchdog FINMA
conducted "extensive investigations" into Credit Suisse's
dealings surrounding Malaysia's scandal-hit state fund
1MDB, resulting in a written reprimand for Switzerland's
"During the investigations, it was not established that the
bank had committed any systematic breaches of supervisory law,"
a FINMA spokesman said in an emailed statement. "FINMA did,
however, send the bank a written reprimand for shortcomings in
its money-laundering processes."
It did not give any more details.
Earlier, Singapore's central bank said it had fined Credit
Suisse and United Overseas Bank a total of S$1.6 million ($1.15
million) for breaching anti-money laundering rules in connection
with transactions related to 1MDB.
($1 = 1.3875 Singapore dollars)
(Reporting by Joshua Franklin; Editing by Michael Shields)