Latest: Corruption and Money Laundering.

Swiss private bank Falcon blocked from new Singapore business: report.

Falcon is one of the banks under investigation by the Monetary Authority of Singapore (MAS) for a possible breach of anti-money laundering rules in handling transactions linked to scandal-hit Malaysian state fund 1MDB.

Falcon, which is owned by Abu Dhabi sovereign wealth fund IPIC, did not immediately respond to an emailed request for comment, while MAS declined to comment on the report.

Falcon has previously said it is cooperating with Singapore's investigators.

"As a matter of policy, MAS does not comment on its supervisory dealings with specific financial institutions," a Monetary Authority of Singapore spokeswoman said in a statement.

Swiss financial watchdog FINMA also declined to comment on the case.

The Finanz und Wirtschaft report did not say if any other banks were being blocked from doing new business in Singapore.

A spokesman said FINMA was working in close collaboration with MAS and other supervisory authorities on 1MDB probes and had opened enforcement proceedings against five banks, one of which was against Swiss bank BSI...

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