1MDB task force mulls legal action against several foreign banks

KUALA LUMPUR: The 1Malaysia Development Bhd (1MDB) Asset Recovery Task Force is considering legal proceedings against several foreign banks that facilitated fund transfers related to 1MDB without conducting proper know your client (KYC) processes at the material time.

Its chairman Datuk Seri Johari Abdul Ghani said the task force is firmly committed to addressing the 1MDB matter transparently and holding all parties accountable.

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Tags / Keywords: 1MDB , Asset Recovery Task Force , Chairman , Johari Abdul Ghani , Legal Action , Foreign Banks , Know Your Client Process , Failure , Negotiators , Settlement , Goldman Sachs , Asset Recovery Guarantee

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1MDB task force mulls legal action against several foreign banks

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ZTE spearheads Malaysia's 5G revolution with its ‘Unfolding the Intelligent Future 2024’ event and receives the Malaysia Book of Records’ fastest 5G-Advanced live trial award.

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