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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.
Singapore in May ordered BSI's operations in the city-state to
be closed, while Switzerland began criminal proceedings against
the private bank in the biggest international crackdown on
financial entities dealing with 1MDB.
BSI in June appealed against a decision by FINMA that it
breached money laundering rules through its business
relationships and transactions linked to 1MDB.
In July Singapore's authorities said they had seized assets
worth S$240 million ($177 million) in an investigation into
1MDB-related fund flows and possible money laundering, in a
probe which has found "deficiencies" at several major banks in
the city state.
(Reporting by Brenna Hughes Neghaiwi, Angelika Gruber and; Saeed
Azhar; Editing by Keith Weir)
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