Collaborating to recover and return monies to Malaysia, as well as collect evidence and track down witnesses in Singapore.
Malaysia’s special task force investigating the 1Malaysia Development Bhd (1MDB) scandal is working with its Singapore counterpart to recover money believed to have been misappropriated by the state-owned strategic investment fund.
It said Singapore’s 1MDB Special Task Force has agreed to cooperate with its Malaysian counterpart to return monies. Malaysia’s 1MDB Special Task Force is led by former attorney-general Tan Sri Abdul Gani Patail, former Malaysian Anti-Corruption Commission (MACC) chief commissioner Tan Sri Abu Kassim Mohamed, incumbent MACC chief Datuk Seri Mohd Shukri Abdull and the Royal Malaysia Police (PDRM) special branch department director Datuk Abdul Hamid Bador,
In a statement, Malaysia’s 1MDB Special Task Force said that during a meeting at 9.30am yesterday, it and Singapore’s 1MDB Special Task Force agreed to cooperate to bring back funds related to 1MDB to the Malaysian government.
“This meeting today (yesterday) has agreed that both parties will collaborate to recover a total sum of monies to the Malaysian government that have been allegedly misappropriated from 1MDB. The collaboration between both parties also aims at collecting evidence and tracking down witnesses in Singapore as soon as possible,” it added. 
“Apart from that, the Malaysian task force will also conduct [a] money trail to detect monies or assets that still exist,” it said, adding that the meeting was attended by nine senior officers from Singapore’s task force, consisting of representatives from the Attorney-General’s Chambers (AGC), the Commercial Affairs Department, the Monetary Authority of Singapore, while Malaysia’s 1MDB Special Task Force has representatives from the AGC, MACC, PDRM and Bank Negara Malaysia.
Yesterday’s meeting came a week after Malaysia’s 1MDB Special Task Force met officers from the US Federal Bureau of Investigation (FBI) and the US Department of Justice (DoJ), where both the US investigators agreed to offer their full cooperation to the Malaysian authorities in the latter’s ongoing investigation into 1MDB.
Apart from authorities from Malaysia, Singapore and the US, 1MDB-related transactions also face probes in other countries including Switzerland, Luxembourg and Hong Kong.
The Singapore authorities have previously taken action against several individuals such as ex-BSI Bank wealth planner Yeo Jiawei for involvement in 1MDB-related money laundering activities, and ordered Zurich-based Falcon Private Bank’s Singapore branch to cease operation while withdrawing BSI Bank Ltd’s status as a merchant bank in Singapore.
Both financial institutions were involved in 1MDB-related transactions. – The Edge Markets