Standard Chartered Bank is facing a $2.7 billion lawsuit filed by liquidators in Singapore over its alleged role in enabling fraud related to Malaysia's sovereign wealth fund, 1MDB. The legal proceedings seek to recover funds misappropriated more than a decade ago, which resulted in financial losses exceeding $2.7 billion. The case highlights ongoing efforts to address the 1MDB scandal through litigation against financial institutions accused of facilitating money laundering and fraud. Separately, Singapore authorities have imposed $21.5 million in penalties on nine financial firms, including UBS, Citi, and Julius Baer, for lapses connected to the city-state’s largest money laundering case, underscoring Singapore’s stringent regulatory stance on financial crimes.