MINT·2025-10-01 04:44Core Viewpoint - Singapore's High Court has ruled against foreign liquidators suing Standard Chartered Plc and BSI Bank Ltd. regarding transactions linked to the 1Malaysia Development Bhd (1MDB) scandal, leaving the claimants without easy recourse [1] Group 1: Legal Proceedings and Financial Impact - Liquidators initiated legal action against Standard Chartered, alleging the bank facilitated over 100 intrabank transfers from 2009 to 2013 that concealed stolen funds, resulting in losses exceeding $2.7 billion for the claimants and S$20 million ($15.5 million) in public funds [2] - The 1MDB scandal is noted as one of the largest financial frauds, with stolen funds estimated over $4 billion, leading to global investigations and the imprisonment of key figures, including former Goldman Sachs executives and a former Malaysian prime minister [3] Group 2: Regulatory Actions and Penalties - In 2016, Singapore authorities fined Standard Chartered S$5.2 million for anti-money laundering breaches related to the 1MDB case, with other banks also facing penalties [3] - BSI Bank's unit was closed in Singapore in 2016 due to money laundering rule violations, including failures in due diligence on high-risk accounts and monitoring suspicious transactions [4]