Swiss bank at the centre of fresh scandal is the one whose Panama operation accepted Konrad Mizzi and Keith Schembri as customers

Swiss financial regulators have opened criminal proceedings against BSI bank in Switzerland over links to corruption allegations against Malaysia’s 1MDB fund. The bank’s chief executive, Stefano Coduri, has resigned with immediate effect.

Switzerland’s Office of the Attorney General says it has information which suggests that the bank could have prevented “the offences of money laundering and bribery of foreign public officials currently under investigation in the context of the 1MDB case”.

BSI Bank in Panama is the one which accepted to take on Konrad Mizzi and Keith Schembri as customers, after a long hunt for a bank that would take them, despite their being politically exposed persons. Given that the data in the Panama Papers ends on 15 December, it remains unclear whether they went ahead and accepted BSI’s offer.