Monday , June 14 2021

MAS police documentation on the Times Times Review article, which "questioned its integrity"

SINGAPORE: Singapore's Monetary Office (MAS) reported on the Singapore police on an online article that wrote "false and malicious" statements and questioned its integrity.

On Friday (9 November), the central bank announced that he had filed a report against the author of an article published on the States Times Review, an alternative news site.

The article entitled "Lee Hsien Loong is becoming the key objective of the 1MDB investigation", pointing out that Malaysia has signed several unfair contracts with Singapore in exchange for Singaporean banks' assistance in laundering money from the Malaysian state fund 1Malaysia Development Berhad (1MDB).

"Singapore's Monetary Office reported to the police forces in Singapore against the author of the article published at on November 5, 2018, who made false and malicious statements and questioned the integrity of MAS as a financial regulator," he said.

MAS called the article "unfounded and defamatory."

"The article ignores the unprecedented and decisive action taken by MAS in the last two years against Singapore's banks and bankers in connection with their role in transactions related to 1MDB, in most cases against foreign law enforcement actions," it said.

"He also raises false allegations that Singapore was forced to resume 1MDB investigations only after the change of political leadership in Malaysia."

Investigations into the state fund have never been closed, the central bank said.

"During the press conference in 2016 and 2017, MAS explained that it would not hesitate to investigate any new potential customers or evidence regarding the funds flows related to 1MDB," he said. "This was repeated in a public statement issued jointly by MAS, the Chamber of the Attorney General and the Singapore Police Force on 8 June 2018."

In addition, the Singaporean authorities have also cooperated with their counterparts in Malaysia, Switzerland, Luxembourg and the US during the previous Malaysian government's term of office, MAS added.

"MAS attaches great importance to protecting its integrity as a financial supervisor and takes all false allegations against it seriously," he said.

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