AFP, Singapore :
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.
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.
