The latest move by U.S. officials to confiscate hundreds of millions of dollars in assets believed tied to the theft of a now-estimated $4.5 billion from a Malaysian state fund further outlines how the money was first siphoned, then routed through global banks.
U.S. officials are "actively and aggressively" pursuing an emerging securities scam involving unregulated and illicit trading of options, an FBI agent told ACAMS moneylaundering.com.
Singapore will step up its supervision of financial institutions in light of allegations that banks in the city-state processed transactions linked to the embezzlement of billions of dollars from Malaysia.
U.S. officials on Wednesday filed 12 civil complaints seeking the forfeiture of more than $1 billion believed stolen from a Malaysian sovereign wealth fund and laundered through more than 20 banks worldwide.