SINGAPORE – DBS Bank is being sued for an estimated $1.3 billion in damages linked to the multibillion-dollar 1MDB scandal, DBS Group said on Sept 9.The claimants include the liquidators of four companies: Blackrock Commodities (Global), Platinum Global Luxury Services, Affinity Equity International Partners and TKIL Global Investments.DBS rejected the claim and said it would fight it vigorously, adding that the company has made no provision for the lawsuit. The bank did not provide any more details on the allegations it faces.The lawsuit is the latest among wide-ranging efforts to recover money belonging to 1Malaysia Development Berhad (1MDB), from which US investigators say about US$4.5 billion (S$5.7 billion) was stolen between 2009 and 2014 in a complex, globe-spanning scheme.All this time, there had been no claim against DBS, according to the lender’s statement.In July 2025, liquidators trying to recover money from 1MDB sued Standard Chartered Bank in Singapore, alleging that it enabled fraud that led to more than US$2.7 billion in financial losses between 2009 and 2013.Shares of DBS closed 0.8 per cent lower at $77.50 earlier in the day. REUTERS