How did Jho Low allegedly pressure BSI Bank regarding 1MDB transactions?

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Jho Low Allegedly Pressured BSI Bank to Avoid Scrutiny of 1MDB Transactions

Jho Low, described as an advisor to then-prime minister Datuk Seri Najib Razak, allegedly exerted pressure on BSI Bank to cease further investigation into 1MDB transactions. This pressure was communicated through an email from a BSI banker, Yak Yew Chee, to numerous bank personnel, including senior management and the compliance department. The core of the alleged threat was that 1MDB might withdraw its accounts and business from BSI if the bank persisted in asking too many questions, a move the bank apparently acceded to in order to protect its commercial interests and retain 1MDB as a valuable client.
Threat Conveyed via Internal Bank Communication

The alleged threat from Jho Low was not directly communicated by him to BSI Bank's leadership, but rather through a BSI banker, Yak Yew Chee. Yak reportedly sent an email detailing the potential repercussions of continued scrutiny to a significant number of individuals within the bank, estimated to be between 15 to 20 people. This internal communication channel ensured that the message reached key decision-makers, including the CEO, deputy CEO, and the compliance department, making the bank's awareness of the situation comprehensive.
Implication of Account Closure and Business Withdrawal

The central element of the alleged pressure was the implied consequence of 1MDB closing its accounts and ceasing business with BSI Bank. This was presented as a direct response to the bank's persistent inquiries regarding 1MDB's financial dealings. For BSI Bank, which benefited significantly from 1MDB's business, the prospect of losing such a lucrative client was a considerable concern, influencing their decision-making process.
Bank's Compliance Driven by Commercial Interests

BSI Bank ultimately complied with the alleged threat to safeguard its commercial interests. The potential loss of 1MDB as a client, a significant source of revenue, was a powerful incentive for the bank to moderate its investigative stance. This compliance led to a situation where the bank was willing to adopt a stance of "willful blindness" concerning certain facts, prioritizing the retention of business over deeper due diligence.
Suspected Source of the Threat

While Yak Yew Chee conveyed the message, the former Singapore banker Kevin Michael Swampillai believed the threat originated from Jho Low. Swampillai's suspicion was based on the nature and depth of the information the bank had been requesting from 1MDB. The fact that an employee outside of 1MDB was relaying such a threat in a specific tone led Swampillai to infer that it emanated from Low, who was known to be an advisor to the then prime minister and also a personal client of the bank.

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How did Jho Low allegedly pressure BSI Bank regarding 1MDB transactions?

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