Facebook said early stages of the investiation have been initiated, and held briefings in the House and Senate this week.

While the exact nature of the party responsible for the behaviour remains unknown—it is very possible that it may be connected to Russia. The company said that it has found connections between the accounts it removed, and the accounts connected to Russia’s Internet Research Agency—that it had removed before and after the 2016 US presidential elections.

“Today’s disclosure is further evidence that the Kremlin continues to exploit platforms like Facebook to sow division and spread disinformation, and I am glad that Facebook is taking some steps to pinpoint and address this activity,” said US Senator Mark Warner, in a statement to Fox News.

“I also expect Facebook, along with other platform companies, will continue to identify Russian troll activity and to work with Congress on updating our laws to better protect our democracy in the future,” he added.

Facebook also released a statement, which said: “It’s clear that whoever set up these accounts went to much greater lengths to obscure their true identities than the Russian-based Internet Research Agency (IRA) has in the past. We believe this could be partly due to changes we’ve made over the last year to make this kind of abuse much harder.”

The earliest page was found to be created in March 2017. Facebook revealed that more than 290,000 accounts followed at least one of the fake pages. The most followed Facebook Pages had names like “Aztlan Warriors,” ”Black Elevation,” ”Mindful Being,” and “Resisters.”

Facebook also said that the pages ran about 150 ads for $11,000 on Facebook and Instagram– paid for in U.S. and Canadian dollars. The first ad was created in April 2017, and the last was created in June 2018.The perpetrators also used virtual private networks (VPN) and internet phone services, and paid third parties to run ads on their behalf.

Facebook said that is partnership with the Atlantic Council helped it to identify the bad actors. One of the groups with roughly 4,000 members was located based on leads from US Special Counsel Robert Mueller’s recent indictment of 12 Russian nationals for their role in hacking and spreading misinformation during the 2016 US presidential election.

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It has called for an investigation by the Roundtable on Sustainable Palm Oil (RSPO), an industry body, into a charge that Noble Plantations, part of the Noble Group, is preparing to clear 18,000 hectares of primary forest for palm oil.

It follows Greenpeace and the Environmental Investigation Agency writing to four banks (HSBC, ABN Amro, ING and Rabobank) which had recently helped set up a new $750m bond issued by Noble Group on March 9, 2017. The NGOs presented the banks with evidence to substantiate their claims about the intentions of Noble Plantations.

The company has been ordered by RSPO to stop work until the investigation is complete.

This is the first time a major bank has requested an RSPO investigation into one of its clients.

All four banks have palm oil policies that prohibit funding of companies destroying primary or High Conservation Value (HCV) forest, with HSBC bowing to Greenpeace and public pressure to produce a stronger ‘no deforestation’ policy in February 2017.

Jamie Woolley from Greenpeace UK said: “After years of turning a blind eye, the financial sector is finally starting to take a tougher line on rogue palm oil companies. HSBC’s decision to do the right thing and trigger an investigation into its own client could save thousands of hectares of pristine rainforest. If other banks are serious about stopping the destruction of rainforests for palm oil, they need follow suit and take responsibility for their clients’ behaviour.”

Audrey Versteegen from the Environmental Investigation Agency said: “The RSPO now has a canvas of 18,000 hectares of primary forest in Papua on which to sketch out the meaning of ‘certified sustainable palm oil’. Noble’s destructive plans must be sent back to the drawing board and the assessors, upon whose flawed environmental audits these plans were based, rooted out of RSPO certification.”

Like many other companies involved in the palm oil sector, banks rely on the RSPO’s standards to reduce their exposure to destructive companies, but countless investigations by civil society organisations have shown that the RSPO’s system is not working. RSPO safeguards are routinely and widely flouted by members, resulting in massive deforestation and conflict with local communities.

NGOs are calling on banks to take responsibility for their clients’ behaviour, and for the RSPO to overhaul its regulations, known as the Principles & Criteria, to bring them into line with the ‘no deforestation, no peat, no exploitation’ standards adopted by most major brands and commodities traders.

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October 11, 2016: Falcon Private Bank, a Swiss private banking boutique with 50 years of expertise in wealth management, has lost its banking licence in Singapore as a fall-out of the 1MDB case.

The Swiss Financial Market Supervisory Authority (FINMA) and the Monetary Authority of Singapore (MAS) have completed their investigation around Falcon Private Bank’s involvement in the 1MDB case and have notified the bank about their decisions. The investigation was into allegations of misappropriation from Malaysia’s state investment fund 1Malaysia Development Bhd (1MDB) and that the money made its way into Malaysian Prime Minister Najib Razak’s personal bank accounts. Prime Minister Najib Razak and the 1MDB have denied any wrong-doing.

Falcon Private Bank was among those embroiled in the scandal along with several other institutions and individuals. Falcon Private Bank and its shareholder Aabar have welcomed completion of the investigation. Since 2013, the bank has further enhanced its compliance, invested in additional resources as well as reviewed the organisational setup and relevant processes. Furthermore, based on the findings of the regulators, Falcon Private Bank has initiated additional measures to prevent future issues.

With its committed staff, strong capital base and high liquidity ratio, Falcon Private Bank will now concentrate on further growing its franchise. The bank provides financial services to private clients and wealthy families from its headquarters in Zurich and locations in London, Singapore, Abu Dhabi and Dubai.

But now, its Singapore banking licence has been withdrawn. The bank is currently in contact with employees, clients and partners and is committed to finding optimal solutions for all parties involved and guaranteeing an orderly winding down of the Singapore operation.

Walter Berchtold, Chief Executive Officer of Falcon Private Bank, said, “We have been in close collaboration with the regulators and welcome that the 1MDB case has been closed with the regulators. Falcon Private Bank adheres to all rules and regulations, is well capitalised, enjoys a strong balance sheet and the full support of our shareholder Aabar. The bank will now focus again on growing our businesses in the core locations Switzerland, Middle East and London. We are highly confident of our expertise to create a long-lasting, positive customer experience.”

Murtadha M. al Hashmi, Chairman of the Board of Directors, added, “I am pleased that the 1MDB chapter could be settled and very confident that the bank will develop positively on its way to long term growth. Aabar, as shareholder of the bank, remains fully committed to supporting Falcon Private Bank on this future path.”

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