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Midweek Roundup: US Eases Dollar Restrictions Against Iran, Singapore Targets European Banks in 1MDB Probe, and More
printThe U.S. Treasury Department issued guidelines stating that Iranian businesses can transact in U.S. dollars at foreign banks and foreign subsidiaries of U.S. banks so long as the transfers don't directly involve financial institutions in the United States, The Wall Street Journal reported. More Singapore fined the local affiliate of Switzerland's Falcon Private Bank and yanked its license for its role in the misappropriation and laundering of billions of dollars from Malaysian state fund 1Malaysia Development Berhad, Reuters reported. The city-state also penalized UBS and DBS, and is preparing a similar assessment against Standard Chartered, the news outlet said. More...
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