Johari Abdul Ghani, chairman of the 1MDB Asset Recovery Task Force, says Malaysia is mulling legal action against some foreign banks. (Source photos by AP and Hiroki Endo)
NORMAN GOH, Nikkei staff writer |
KUALA LUMPUR — Malaysia is considering filing lawsuits against several foreign banks over alleged malfeasance in the multibillion dollar 1Malaysia Development Berhad (1MDB) corruption scandal, according to the government’s 1MDB Asset Recovery Task Force.
Johari Abdul Ghani, chairman of the body, said that a number of foreign banks had facilitated 1MDB-related fund transfers without conducting proper Know Your Client (KYC) processes. He did not specify any particular banks in a statement on Tuesday.
