SINGAPORE: Responding to US action overnight in its probe into 1Malaysia Development Bhd (1MDB), Singapore authorities said they had found lapses in anti-money laundering (AML) controls in several financial institutions here, including DBS and the Singapore branches of Standard Chartered Bank (SCB) and UBS, and would be taking action against them.
They also added that bank accounts belonging to various individuals had been seized and dealings in properties belonging to some of these individuals had been curtailed. The assets amounted to S$240mil (RM716.8mil). Of these, bank accounts and properties of about S$120mil (RM358.45mil) belonged to Low Taek Jho and his immediate family.
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