Standard Chartered faces $2.7 bn lawsuit linked to 1MDB scandal

Standard Chartered Plc is being sued for $2.7 billion by liquidators of Malaysias 1MDB fund, who allege the bank enabled over 100 intrabank transfers between 2009 and 2013 that helped launder stolen funds, Bloomberg reported. The UK-based bank, sued in Singapore, denies the claims, stating it had reported suspicious activity, closed the accounts in 2013, and cooperated with authorities.