Singapore police freeze two bank accounts linked to 1MDB
Singapore police probes two Singapore bank accounts involved with 1MDB.
The Singapore police have frozen two bank accounts involved with the 1Malaysia Development Berhad (1MDB) on July 15 for possible money laundering, reported the Singapore's Business Times.
The Singapore Police Force in a report said that investigations have been launched into the accounts under Section 47 of the Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of benefits) Act, Chapter 65A. It also cited the Criminal Procedure Code to “prohibit any dealings in respect of money in two bank accounts that are relevant to the investigation”.
They said this in response to queries on whether actions are being taken by the police to investigate the 1MDB money trail in Singapore.
The police added that it will assist the Malaysian authorities in the 1MDB probe.
The police, however did not disclose which bank or accounts in question as investigations are still ongoing.
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