The Special Task Force on 1Malaysia Development Bhd (1MDB) met its counterpart from Singapore at the Malaysian Anti-Corruption Commission (MACC) headquarters this morning. — Picture courtesy of MACC

KUALA LUMPUR, May 31 — The Special Task Force on 1Malaysia Development Bhd (1MDB) met its counterpart from Singapore at the Malaysian Anti-Corruption Commission (MACC) headquarters this morning.

In a statement, both teams have agreed to recover the money allegedly embezzled from the fund.

“The goal of cooperation between both sides is to collect evidence and indicate witnesses in Singapore as soon as possible

“In addition, the team will go on the money trail to detect the cash and assets that still exist,” it said in a statement.

The meeting today was attended by nine senior members of the Singaporean investigation team, including representatives from its Attorney-General’s Chambers, Commercial Affairs Department and the Monetary Authority Singapore.

Malaysia was represented by officials from the Attorney-General’s Chambers, MACC, police and Bank Negara Malaysia.

The four-man taskforce consists of former Attorney-General (AG) Tan Sri Abdul Gani Patail, former MACC chief Tan Sri Abu Kassim Mohamed, MACC chief commissioner Datuk Seri Mohd Shukri Abdull and former Special Branch deputy director Abdul Hamid Bador.

In recent years, Singapore ordered two Swiss private banks to shut, fined other large banks, seized assets and banned at least eight people from the finance industry for their actions in 1MDB-related transactions.