‘Red flags but bank never lodged reports’

KUALA LUMPUR: A former Singaporean banker told the High Court that there were obvious red flags in relation to 1Malaysia Development Berhad (1MDB) transactions in BSI Bank, but the bank never filed any suspicious transaction reports (STR) to the Monetary Authority of Singapore (MAS).

Kevin Micheal Swampillai, 59, who worked with BSI Bank Singapore from 2010 to 2016, said any bank has a duty and is legally bound to file the STR with law enforcement once any red flags are spotted to alarm the authorities.