Standard Chartered Bank has been hit with a US$2.7 billion lawsuit in Singapore by liquidators of companies linked to Malaysia’s scandal-plagued sovereign wealth fund 1MDB. The claim, filed in the High Court, seeks to recover funds that investigators say were misappropriated from 1MDB and channelled through the bank’s accounts. Liquidators, working with financial-services firm Kroll, allege the London-based lender facilitated more than 100 intra-bank transfers between 2009 and 2013 that helped conceal the movement of stolen money. They accuse Standard Chartered of ignoring clear red flags and breaching anti-money-laundering controls, actions they say contributed to at least US$2.7 billion in losses. Standard Chartered said it has not yet received the court documents but "emphatically rejects" the accusations and intends to fight the case. The bank noted that the claimant entities are in liquidation and have, in its view, no legitimate business, adding that it has invested heavily in compliance since the events in question. The lawsuit is the latest effort to claw back an estimated US$4.5 billion siphoned from 1MDB in what U.S. prosecutors have called one of the world’s largest financial frauds. Singapore’s regulator previously fined Standard Chartered S$5.2 million in 2016 for anti-money-laundering lapses related to the scandal.