1MDB- linked findings

Singapore’s central bank said on Monday the recent findings in a money- laundering probe linked to Malaysian state fund 1MDB had dented Singapore’s reputation as a financial center.

“There is no doubt that the recent findings have made a dent in our reputation as a clean and trusted financial center,” said Ravi Menon, managing director of the Monetary Authority of Singapore.

Singapore has widened a crackdown on money- laundering probe tied to 1MDB.