Standard Chartered Bank is fined for 3.65 mln dollars.

The amount of fine was more than five million dollars.

The Singapore authorities fined two British banks for the amount of 5.3 million dollars for violation of anti-money laundering during financial transactions, associated with Malaysian State Fund 1Malaysia Development Berhad (1MDB), Correspondent reports.

The Standard Chartered local branch was fined for USD 3.65 mln, while the Coutts branch should pay 1.7 mln for improper client check.

The violations were found during the international investigation of case of stealing more than a billion dollars from 1MDB fund, created for provision of economic aid to Malaysia.

People, close to Malaysian Prime Minister Najib Razak, are allegedly involved in stealing this money.

The case on 1MDB fund is investigated in four countries – USA, Malaysia, Singapore and Switzerland. 

The investigators suppose that the billions of dollars were stolen from the Malaysian Fund since its launch in 2009. The part of this money was apparently spent on asset purchase in the United States.

In July, US Department of Justice filed a suit, claiming to seize assets, amounting to about one billion dollars, which may be related to “international conspiracy to laundering money, stolen from 1MDB”.

It was indicated in the suit that several people are involved in stealing and laundering money, including Malaysian public officials.

In addition, it is said in the claim that Prime Minister of Malaysia Riza Aziz is involved in this case.

Prime Minister Najib Razak is not mentioned by name in the claim, however, according to mass media, he is apparently featured in the document as the “Malaysian official №1”.

Later, one of Malaysian ministers confirmed this version for BBC. Najib Razak denies charges of his involvement in stealing.