On May 22, a court in Luxembourg imposed a €25 million (approximately US$28 million) fine on Edmond de Rothschild bank for its role in a money-laundering case tied to Malaysia's 1MDB sovereign wealth fund. The court found that the bank did not sufficiently monitor financial transactions and failed to report suspicious activities, as required by anti-money laundering regulations. This case is notable as it represents the first time a banking institution in Luxembourg has been convicted for such an offense. The 1MDB fund, established by the Malaysian government, has been at the center of a global financial scandal involving the misappropriation of billions of dollars. The court's decision highlights the increasing scrutiny on financial institutions' compliance with anti-money laundering laws. Edmond de Rothschild bank retains the right to appeal the ruling.