Singapore authorities to continue cooperation on discussions with Malaysia's 1MDB tas
SINGAPORE: The Singapore authorities have agreed to continue cooperating with Malaysia's 1MDB taskforce and keep up the exchange of information, following a "productive" meeting between both sides on Thursday (Jun 7).
In a joint statement on Friday, the Attorney-General's Chambers (AGC), Commercial Affairs Department (CAD) and Monetary Authority of Singapore (MAS) said the meeting on Thursday was held at the invitation of the Singapore authorities and that there was a "fruitful exchange of information".
AdvertisementThis followed an earlier meeting with the taskforce last week in Kuala Lumpur, the statement added.
"Singapore has been providing Malaysia information on 1MDB-related fund flows, since March 2015, and this was acknowledged by Malaysia. Both sides agreed to continue this cooperation," said the authorities.
The authorities also clarified on the INTERPOL Red Notices for Low Taek Jho, widely known as Jho Low, and Tan Kim Loong, also known as Eric. Both are alleged to be involved in the 1MDB scandal.
"Singapore law enforcement and regulatory agencies have been actively investigating possible money-laundering and other offences pertaining to 1MDB-related fund flows, starting in March 2015," said the Singapore authorities.
AdvertisementAdvertisement"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."
Low on Thursday was said to be among the main criminals in the scandal by Malaysia Home Minister Muhyiddin Yassin. An arrest warrant for Low was later issued by the Malaysian Anti-Corruption Commission.
The Singapore authorities added in the statement that Singapore does not tolerate the use of its financial system as a refuge or conduit for illicit funds.
Strong action, such as criminal charges, convictions and large financial penalties, have been taken against financial institutions and individuals who have broken the laws within Singapore's jurisdiction in connection with 1MDB-related fund flows.
Investigations are continuing into several other individuals suspected of being involved in 1MDB-related offences in Singapore, the statement added.
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SINGAPORE: The Singapore authorities have agreed to continue cooperating with Malaysia's 1MDB taskforce and keep up the exchange of information, following a "productive" meeting between both sides on Thursday (Jun 7).
In a joint statement on Friday, the Attorney-General's Chambers (AGC), Commercial Affairs Department (CAD) and Monetary Authority of Singapore (MAS) said the meeting on Thursday was held at the invitation of the Singapore authorities and that there was a "fruitful exchange of information".
AdvertisementThis followed an earlier meeting with the taskforce last week in Kuala Lumpur, the statement added.
"Singapore has been providing Malaysia information on 1MDB-related fund flows, since March 2015, and this was acknowledged by Malaysia. Both sides agreed to continue this cooperation," said the authorities.
The authorities also clarified on the INTERPOL Red Notices for Low Taek Jho, widely known as Jho Low, and Tan Kim Loong, also known as Eric. Both are alleged to be involved in the 1MDB scandal.
"Singapore law enforcement and regulatory agencies have been actively investigating possible money-laundering and other offences pertaining to 1MDB-related fund flows, starting in March 2015," said the Singapore authorities.
AdvertisementAdvertisement"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."
Low on Thursday was said to be among the main criminals in the scandal by Malaysia Home Minister Muhyiddin Yassin. An arrest warrant for Low was later issued by the Malaysian Anti-Corruption Commission.
The Singapore authorities added in the statement that Singapore does not tolerate the use of its financial system as a refuge or conduit for illicit funds.
Strong action, such as criminal charges, convictions and large financial penalties, have been taken against financial institutions and individuals who have broken the laws within Singapore's jurisdiction in connection with 1MDB-related fund flows.
Investigations are continuing into several other individuals suspected of being involved in 1MDB-related offences in Singapore, the statement added.
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