International Business & Economy MAS queried about 40 banks about 1MDB says Australian newspaper

MAS queried about 40 banks about 1MDB says Australian newspaper




- Advertisement -

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.

- Advertisement -

Photo of deliveryman praying at HDB void deck goes viral

Over 13,000 netizens on Facebook have appreciated a viral photo of a deliveryman silently conducting his prayers at the void deck of a HDB block in Pasir Ris. The photo was published on social media by Facebook user Ong Beng Lee, who...

Video: Wheelchair-bound uncle rummaging through food waste at Chinatown hawker raises questions

A short clip of a wheelchair-bound elderly man has been circulating on social media, drawing various reactions and raising questions from netizens. The clip, posted on Monday (Jan 11), showed an old man turning over a bin at the utensil-return area in...

Singapore-Malaysia HSR project: What next after cancellation?

Singapore — There was a time when the Singapore-Malaysia High-Speed Rail (HSR) link project was seen as an olive branch of sorts, an opportunity to bury the hatchet between the neighbouring countries, according to a report in (South China Morning...