Under probe: Singapore says it has completed its inspections of DBS, Standard Chartered and UBS, with preliminary findings showing instances of ‘control failings’. — AFP
SINGAPORE: Authorities here have seized assets worth S$240mil (RM717.45mil) in an investigation of 1MDB-related fund flows for possible money laundering, in a probe which has found “deficiencies” at several major banks here.
“The fund flows being investigated include those connected with Good Star Limited (Seychelles), Aabar Investments PJS Limited (BVI), Aabar Investments PJS Limited (Seychelles), and Tanore Finance Corp (BVI),” said a joint statement by the Monetary Authority of Singapore, the Attorney-General’s Chambers and the Commercial Affairs Department.
