Although the acquisition was formally completed last November, a final price has yet to be negotiated.

The buyer of a Swiss bank that was last year exiled from Singapore amid global money laundering probes is seeking to slash the purchase price by around a quarter after the bank suffered nearly $5 billion in outflow in two months.

BSI incurred SFr4.9 billion ($4.9 billion) in net asset outflows in the last two months of 2016, according to EFG International, the Zurich-headquartered bank that is set to purchase BSI.

EFG International, which is buying BSI from Brazillian bank BTG Pactual, says it is now looking to pay SFr277.5 million less than the original SFr1.06 billion purchase price disclosed last November. EFG International early last year said it would pay around SFr1.33 billion for BSI, at a time when alleged ties between BSI employees and the corruption scandal at Malaysia’s state-owned investment fund, 1Malaysia Development Berhad, were not clear.

EFG International said its latest valuation is “subject to BTG’s expected objection and, if necessary, verification by an independent expert".

BTG responded that it “refutes” EFG International’s revised purchase price.

The scandal-hit 1MDB fund is currently the subject of probes into alleged money laundering probes in at least six countries including Singapore, the US, Switzerland and, most recently, Australia.

Authorities worldwide are investigating the alleged misappropriation of up to $6 billion from 1MDB using banks such as BSI as conduits.

Last May, Singapore’s central bank and financial watchdog, the Monetary Authority of Singapore, ordered BSI to shut shop in the city-state over “serious breaches of anti-money laundering requirements” and “gross misconduct by some of the bank’s staff”. BSI’s Singapore unit allegedly served as a transit point for money siphoned off from 1MDB.

Earlier this week, MAS announced plans to ban one former BSI employee, Yak Yew Chee, who was last year jailed for 18 weeks, for life from financial services, and to impose a 15-year ban on another former BSI employee Yvonne Seah, following investigations into “1MDB-related matters.” Seah joined her former boss in jail for two weeks and was fined nearly $7,000.