BRIDGETOWN, Barbados, CMC – Financial regulators in Barbados are monitoring suspicious financial transactions involving millions of dollars allegedly linked to funds misappropriated from Malaysia’s state-owned 1Malaysia Development Berhad (1MDB).

According to Barbados Today, the Central Bank of Barbados and the Financial Services Commission (FSC) confirmed they are tracking developments after the Malaysian Anti-Corruption Commission (MACC) disclosed that it had secured a court order freezing approximately US$1.7 million held in accounts at a Barbados-based bank with Swiss headquarters.

The MACC said the order was granted by a Kuala Lumpur High Court in April under Malaysia’s anti-money laundering legislation after investigators linked the funds to suspected money laundering activities.