Many hit for 1MDB-linked crimes overseas, but not here

In 1MDB fund probe, S’pore closes Falcon Bank, fines UBS and DBS

Vijay47: Singapore may have been late in awakening to the financial criminal doings that took place, but it is at least now taking firm no-nonsense action against those responsible.

In the lead is the agency directly responsible for overseeing banking activities, the Monetary Authority of Singapore (MAS), while in Malaysia, everyone connected with the 1MDB crimes, like Malaysian Anti-Corruption Commission (MACC), Bank Negara, and the attorney-general (AG), are suddenly afflicted with deafness, blindness, and paralysis.

A telling element in the MAS statement is that its action is not only in respect of malpractices in Singapore itself, but also those by “senior management at the Head Office in Switzerland.”

I wonder how the prime minister, the AG, Bank Negara governor, the inspector-general of police (IGP), and other heads of enforcement agencies manage their self-respect. The biggest blow to our national pride and image is that they went about struggling to make excuses for MO1 (Malaysian Official 1).

Godfearing: Hats off to MAS which has set such a fine example and oversight standards for other central banks in the region to follow.

While several foreign central banks care so much about 1MDB fiasco, the silence at home is deafening, to say the least. What a shame.

Anonymous_1388029052: Yes, meanwhile in Malaysia, Bank Negara is dead under a new chief, MACC can only go after the Sabah Water Department, while ignoring the big elephant.

The attorney-general says no case, and IGP is still investigating.

Our beloved country has really gone to the dogs, being dependent on other countries to help us find the crooks.

TxRx: Prime Minister Najib Razak is an honest leader who has consistently practised accountability and transparency in carrying out his official duties, Umno minister Nazri Aziz said.

The same, Nazri added, cannot be said of former premier Dr Mahathir Mohamad.

“We all stand by him (Najib), I believe in him, and that he’s not capable of doing all those things that has been alleged.

“The RM2.6 billion issue for example, he has explained where the money is from and how much he used and for what purpose,” said Nazri.

“Najib is an honest leader, we know how much Najib collected, very transparent as the money was from a friendly country,” he added, saying that Saudi Arabia’s intentions were clear as the donation was done in order to see a “Muslim nation” like Malaysia continue maintaining close ties with them.

Bluemountains: The authorities have so far closed down two banks and charged a few bank employees who helped the alleged Malaysian thieves launder money said to be stolen from 1MDB.

Indeed, when will the Malaysian authorities, with the help of Interpol, arrest and charge these alleged money launderers?

Joe Lee: “Investigations by the Monetary Authority of Singapore benefited from close cooperation with various overseas regulatory counterparts, in particular the Swiss Financial Market Supervisory Authority (Finma)…”.

So when are we going to see some cooperation from the IGP, MACC, AG, and Bank Negara?

Clongviews: Hopefully those charged in court in the foreign countries would reveal the money trail, and expose the culprits during the trial.

Although the Malaysian officials are deaf and blind, Malaysians would at least know the truth. So, please hurry up with the court proceedings.

Roguekiller: The plague of one man has ‘killed’ many Swiss banks and countless staff lost their bread and butter just because of one man.

Nonetheless, if the staff of the banks were upright, honest and adhered to banking rules, they wouldn’t have been affected, but greed clouded their judgement.

They apparently asked for it. I wonder why only foreign investigators could see the wrongdoings in 1MDB, while those in Malaysia see nothing wrong.

Are our very own investigators inefficient, lack knowledge, blind, stupid, or scared to highlight the glaring malpractices taking place under their watchful eyes?

The former governor of Bank Negara saw the colossal sums of money passing through. Yet she pretended she didn’t know.

The AG, as usual, can’t see anything wrong, but has an eagle eye when the opposition makes a wrong move; especially when a decent and honest man bought a house at a cheaper price.

Anonymous #33227154: MAS should have detected the fraud much earlier, these are reactive, rather than proactive actions.

However, MAS is much better than Bank Negara. Bank Negara did not take any action at all, even when the fraud was discovered. This is a hallmark of our corruption, so different from our neighbour.

Jesse: Overseas actions against these banks and their employees involved with 1MDB demonstrate criminal activities, yet in Bolehland, nothing is being done because MO1 has all those responsible for law enforcement under his thumb.

Negarawan: In Singapore and other law-abiding countries, the authorities call it “money laundering”. In Malaysia, Umno calls it “Arab donation”.

JusticeNow!: So, the bank that sent the “Arab donation” to Najib has been closed down. That tells you in absolute terms that there is no “donation”, just “corruption”.

From Penang: There is a conspiracy by Singapore to topple the democratically-elected Malaysian government. Sounds familiar?

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