Singapore police on Wednesday, July 22, confirmed they had frozen two bank accounts as part of an investigation into possible money-laundering offenses related to troubled Malaysian state investment firm 1MDB. The company is under investigation by Malaysian authorities following reports of irregularities including fund transfers allegedly involving Prime Minister Najib Razak, who has strongly denied any wrongdoing. The SPF said it was conducting an “investigation into possible money-laundering offences.” The SPF said on July 15 it “issued orders under the Criminal Procedure Code to prohibit any dealings in respect of money in two bank accounts that are relevant to the investigation.” It did not identify the bank accounts and said it would not provide further details as investigations were ongoing.
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