Singapore officials meet with 1MDB Taskforce
SINGAPORE: Officers from the Attorney- General’s Chambers (AGC) Singapore, Commercial Affairs Department ( CAD) of the Singapore Police Force, and Monetary Authority of Singapore ( MAS) met with the 1Malaysia Development Board (1MDB) Taskforce led by Tan Sri Abdul Gani Patail here yesterday.
A joint statement from AGC, CAD, and MAS yesterday said the meeting was held at the invitation of the Singapore authorities and followed an earlier meeting with the taskforce last week in Kuala Lumpur.
According to the statement, the meeting was productive with a fruitful exchange of information.
The statement said Malaysia has acknowledged that Singapore has been providing it with information on 1MDB-related fund flows, since March 2015, and both sides agreed to continue this cooperation.
“We have received media queries on the issuance of Interpol Red Notices. Singapore law enforcement and regulatory agencies have been actively investigating possible moneylaundering and other offences pertaining to 1MDB-related fund flows, starting in March 2015.
“Following investigations, the Singapore authorities issued warrants of arrest in April/May 2016 and at Singapore’s request, Interpol published Red Notices in October 2016, for Low Taek Jho and Tan Kim Loong, who are suspected to have committed offences in Singapore and cannot be located here. All members of Interpol, including Malaysia, would have been aware of the Red Notices when they were published,” said the statement.
“Singapore does not tolerate the use of its financial system as a refuge or conduit for illicit funds. We have taken strong action against financial institutions and individuals, who have broken laws within our jurisdiction in connection with 1MDB-related fund flows, including criminal charges and convictions, as well as large financial penalties. Investigations are continuing into several other individuals suspected of being involved in 1MDB-related offences in Singapore.”