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