Singapore police have started investigations into money laundering on two bank accounts linked to 1Malaysia Development Bhd (1MDB) in the island republic, The Business Times (BT) reports today. The Singapore business daily said two accounts were frozen on July 15, just a week after Singapore’s central bank said it was in contact with financial institutions in relation to Malaysia’s probe into allegations billions of ringgit from 1MDB-linked firms had been transferred into the prime minister’s personal accounts.
The Monetary Authority of Singapore (MAS) said on July 8, it would assist Malaysia and share information where it was legally able to.
