Arab Today, arab today singapore freezes accounts linked to probe of malaysias 1mdb
Last Updated : GMT 16:02:07
Arab Today, arab today
Arab Today, arab today

Singapore freezes accounts linked to probe of Malaysia's 1MDB

Arab Today, arab today

Arab Today, arab today Singapore freezes accounts linked to probe of Malaysia's 1MDB

Prime Minister Najib Razak
Singapore - AFP

Singapore police on Wednesday confirmed they had frozen two bank accounts as part of an investigation into possible money-laundering offences related to troubled Malaysian state investment firm 1MDB. The company is under investigation by Malaysian authorities following reports of irregularities including fund transfers allegedly involving Prime Minister Najib Razak, who has strongly denied any wrongdoing. "We understand that the Malaysian authorities have launched investigations into certain matters related to 1MDB," the Singapore Police Force (SPF), which has a unit dealing with financial crime, said in a statement sent to AFP. "Singapore will continue to provide our full assistance and share information with the relevant authorities in Malaysia, within the ambit of our laws and international obligations." The SPF said it was conducting an "investigation into possible money-laundering offences". The PSF said on July 15 it "issued orders under the Criminal Procedure Code to prohibit any dealings in respect of money in two bank accounts that are relevant to the investigation". It did not identify the bank accounts and said it would not provide further details as investigations were ongoing. The Wall Street Journal reported on July 3 that investigators had discovered nearly $700 million had moved through government agencies, banks and companies linked to 1MDB before ending up in Najib's personal accounts. Najib dismissed the report as "political sabotage" and threatened legal action, while 1MDB said it had not transferred any funds to the Malaysian premier, who is also the finance minister. A special task force in Malaysia set up to probe the money transfers has frozen six bank accounts. It said none of them belonged to Najib. Facing intense pressure to reveal the whereabouts of allegedly missing 1MDB money, Najib said in March that about $1.1 billion of its funds had been transferred from the Cayman Islands to an account with Swiss private bank BSI in Singapore. Critics, however, have accused Najib's administration of conflicting statements on the nature of those funds and failing to provide full details on the account. The Monetary Authority of Singapore (MAS), the city-state's central bank, said this month it was providing assistance to Malaysian authorities in their investigation. The MAS noted that financial institutions in Singapore "are required to conduct rigorous customer due diligence, regular account reviews, and to monitor for and report any suspicious transactions." It warned it "will not hesitate to take any action if there are regulatory breaches". Singapore is Southeast Asia's leading financial centre. It is home to over 200 banks handling assets worth almost two trillion US dollars as of December 2013, according to the MAS website.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today singapore freezes accounts linked to probe of malaysias 1mdb Arab Today, arab today singapore freezes accounts linked to probe of malaysias 1mdb

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today singapore freezes accounts linked to probe of malaysias 1mdb Arab Today, arab today singapore freezes accounts linked to probe of malaysias 1mdb

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel
View News in Arabic - Business: اقتصاد دولي
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Girl barred from Malaysia chess competition

GMT 09:49 2017 Tuesday ,02 May

Girl barred from Malaysia chess competition
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday