The Australian, an Aussie newspaper reported that it believes that the Monetary Authority of Singapore (MAS) has asked close to 40 banks with a presence in the city-state to provide information in its investigations of funds related to 1MDB.
Among the 40 banks are two of Australia’s biggest. and transfers as little as A$50,000 are under scrutiny to see if funds have been broken up to stay under the radar. MAS had earlier confirmed that it was investigating funds related to 1MDB.
The Australian said MAS questioned the banks on why specific bank accounts were set up and the nature of the transactions.
“It is believed the queries in this case fall short of a more serious formal direction compelling them to provide information,” the report reads.