MAS seeking data from 40 banks in money laundering probe: report

Singapore

THE Monetary Authority of Singapore (MAS) is asking a few financial institutions to cooperate in its probe into possible money-laundering and other offences, some of which may involve beleaguered Malaysian state investment company 1Malaysia Development Bhd (1MDB).

At the same time, it is also reaching out to authorities in other jurisdictions to investigate the nature of certain cross-border flows of funds.