Switzerland's markets regulator is to conduct an in-depth review of JPMorgan's anti-money laundering protocols after finding the US bank breached rules in its dealings with 1MDB, the scandal-hit sovereign wealth fund of Malaysia.

In a statement, the Swiss Financial Market Supervisory Authority said JPMorgan had failed to properly screen certain transactions — including one of "hundreds of millions of US dollars" — booked in Switzerland associated with 1MDB and one of its business partners.