The Monetary Authority of Singapore and the republic’s Commercial Affairs Department have seized a large number of bank accounts amidst the probe into 1Malaysia Development Berhad, the Channel News Asia reported today.

In a joint statement, the authorities said Singapore does not tolerate the use of its financial system as a refuge or conduit for illicit funds.

The two agencies also said since the middle of last year, they have been actively investigating possible money-laundering and other offences carried out in Singapore.

“In connection with these investigations, we have sought and are continuing to seek information from several financial institutions, interviewing various individuals and have seized a large number of bank accounts.

“Singapore is also cooperating closely with relevant authorities, including those in Malaysia, Switzerland and the United States. We have responded to all foreign requests for information and have requested for information from relevant counterparts to aid in our investigations. As investigations are still on-going, we are not able to provide more details at this stage,” the statement read.

Attorney-General Tan Sri Mohamed Apandi Ali last week announced that Prime Minister Datuk Seri Najib Razak has returned a huge portion of the RM2.6 billion fund received from the royal family of Saudi Arabia.

READ: Attorney-General clears Najib of criminal offence in SRC, RM2.6 billion probes

This shows that Najib has not committed any criminal offence with regards to the RM2.6 billion fund transferred into his personal account and SRC International Sdn Bhd.

Mohamed Apandi also added the findings of the investigation has found no insufficient evidence to implicate Najib.

“The AG’s Chambers will exhaustively review the report by the Malaysian Anti-Corruption Commission and, as has been announced found no evidence of wrongdoing and have instructed for the cases to be closed.

Mohamed Apandi also added that the USD$620 million fund (RM2.03 billion) fund was refunded by Najib in August 2013 and the fund was not utilised.

On Jan 30, Mohamed Apandi gave assurance that the AG Chambers would cooperate with Swiss chief prosecutor, Martin Lauber that had officially seek Malaysia’s assistance in the probe that the US$4 billion (RM16.8 billion) may have been misappropriated by 1MDB.

READ: 1MDB: AG's Chambers to cooperate with Swiss counterparts

READ: Ahmad Zahid rebukes Swiss AG over 'going public' on 1MDB probe

“These materials will be reviewed, alongside the findings of their relevant authorities and our investigations, to determine the appropriate course of action,” said Mohamed Apandi.