SINGAPORE: Singapore authorities have taken action against the former deputy chief executive officer (CEO) of BSI Bank Ltd, Singapore Branch (BSIS) for his contribution to the bank's failure to file suspicious transaction reports (STR) regarding 1Malaysia Development Bhd (1MDB)-related transactions.
Raj Sriram, who is also the former head of Private Banking of BSIS has been issued a 24-month conditional warning from the Singapore Police's commercial affairs department (CAD) and a 10-year prohibition order (PO) by the Monetary Authority of Singapore (MAS).
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