A series of regulatory probes of BSI has resulted in a mass theft of billions of dollars by banks . Around CHF6.3bn ( $ 6.5bn ) have been withdrawn in the last three months due to accusations of money laundering and the bank 's commitment to Malaysia 's 1MDB . The bank is currently appealing against a lawsuit by Swiss financial watchdog Finma , which alleges that the bank breached money laundering rules . To further address its problems , the Monetary Authority of Singapore stripped BSI of its merchant bank assets due to poor management , breach of anti - money lending regulations and gross misconduct . BSI is currently being acquired by the Zurich - based private bank EFG International .
A series of regulatory probes of BSI has resulted in a mass withdrawal of billions of dollars by clients. Around CHF6.3bn ($6.5bn) have been withdrawn in the last three months due to accusations of money laundering and the bank's link to Malaysia's 1MDB. The bank is currently appealing against a decision by Swiss financial watchdog Finma, which alleges that the bank breached money laundering rules. To further compound its problems, the Monetary Authority of Singapore stripped BSI of its merchant bank licence due to poor management, breach of anti-money laundering regulations and gross misconduct. BSI is currently being acquired by the Zurich-based private bank EFG International.