THE worldwide crackdown against banks and bankers who laundered money from state investor 1Malaysia Development Berhad (1MDB) proves it is not merely a coordinated plot to embarrass Malaysia, said opposition and civil society activists.

“After all the actions that have been taken against several banks and bankers all over the world, I am shocked that a minister can say this,” said Cynthia Gabriel, (founder) of the Centre for Combating Corruption and Cronyism.

“There are worldwide investigations into 1MDB, banks have been shut down and the Swiss Attorney-General says the noose is tightening against the perpetrators. I am shocked that he is living in a state of denial,” said Gabriel when contacted.

Gabriel was responding to senior cabinet minister Nazri Abdul Aziz’s suggestion that the probes were orchestrated by the United States.

Nazri, a former law minister, had said that a civil suit by the United States Department of Justice (DoJ) was an attempt by the US government to undermine and destabilise Malaysia.

The civil suit was to seize assets worth over USD1 billion in the US, including luxury homes and paintings, which were allegedly purchased by money stolen from 1MDB.

The actions taken against banks and bankers in six countries that are part of the 1MDB money trail prove that fraud and misappropriation had been committed, said Gabriel.

Since October last year, Singapore has shuttered the branches of two Swiss banks, Falcon and BSI, for laundering money allegedly stolen from 1MDB.

The island republic also fined two other banks, UBS and DBS, for breaching anti-money laundering laws. Switzerland has also fined the Coutts Bank for money laundering.

Five former bankers in Singapore have also been fined and jailed for their roles in the illegal movement of 1MDB funds from accounts tied to controversial financier Low Taek Jho.

Low is one of four individuals named in the US DoJ suit.

Aside from the DoJ’s civil suit, what was particularly striking and incriminating were images of how Low and his partner Riza Aziz had splurged on private jets, mansions and penthouses, said opposition lawmaker Rafizi Ramli,

“This is more powerful than any words that any politicians can say to support or deny (Prime Minister) Najib’s association with the case,” said Rafizi, who has been instrumental in exposing the scandal.

“That’s why I find Nazri’s attempt to use the outdated script that tries to paint DOJ’s suit against 1MDB as “foreign interference” laughable.

“This has been the script against Anwar (Ibrahim) that Umno has used for decades. If it doesn’t work on Anwar, it will be even harder to make it work on 1MDB.”

Gabriel added that it did not make sense for the US to destabilise Malaysia as the two countries had deep trade and diplomatic ties. – April 7, 2017.