Singapore central bank files police report on 1MDB-related article

Singapore central bank files police report on 1MDB-related article

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SINGAPORE: The Monetary Authority of Singapore (MAS) has filed a police report against the author of an article published on Nov 5 claiming that Malaysia signed several unfair agreements with the city-state in exchange for assistance from its banks in laundering funds from 1MDB.

MAS said the article, titled “Lee Hsien Loong becomes 1MDB’s key investigation target”, had made statements which were false and malicious and impugned its integrity as a financial regulator.

“The article is baseless and defamatory,” it said in a statement.

“The article ignores the unprecedented and robust actions taken by MAS over the last two years against Singapore-based banks and bankers in relation to their roles in 1MDB-related transactions, in most instances ahead of enforcement actions by foreign jurisdictions.

“It also makes false allegations that Singapore was forced to reopen its investigations into 1MDB only after the change in political leadership in Malaysia. Investigations into the 1MDB case had never been closed.”

At its annual report press conferences in 2016 and 2017, MAS had said it would not hesitate to investigate any new leads or evidence on 1MDB-related fund flows.

This was reiterated in a public statement jointly issued by MAS, the Attorney-General’s Chambers, and the Singapore Police Force on June 8, the statement said.

MAS said Singapore’s law enforcement and regulatory agencies had also been cooperating actively with their counterparts in Malaysia, Switzerland, Luxembourg and the US during the tenure of the previous Malaysian government.

“MAS has placed utmost importance on safeguarding its integrity as a financial regulator and takes seriously any false allegations to the contrary,” it said.

 Source : https://www.msn.com/en-sg/news/national/singapore-central-bank-files-police-report-on-1mdb-related-article/ar-BBPvdHL