This article first appeared in The Edge Financial Daily on July 3, 2018

KUALA LUMPUR: The 1Malaysia Development Bhd (1MDB) Special Task Force has frozen 408 bank accounts of individuals, political parties and non-government organisations (NGOs) worth RM1.1 billion on June 26 and 29.

In a statement yesterday, the task force said the frozen accounts involved 81 individuals and 55 companies that are believed to have received funds from 1MDB.

“These accounts are believed to be linked to the money laundering and misappropriation of 1MDB funds. It involved nearly 900 transactions made between March 2011 and September 2015,” it added.

On June 29, the New Straits Times quoting sources said the Malaysian Anti-Corruption Commission (MACC) had frozen about 900 accounts linked to 1MDB. Newly elected Umno president Datuk Seri Dr Ahmad Zahid Hamidi was also reported as saying that Umno had found the bank accounts of the party’s headquarters and Selangor branch frozen.

1MDB Special Task Force added that it is currently conducting an investigation to identify the level of involvement of the parties involved. The task force did not discount the possibility that more accounts would be frozen.

“All of the accounts were frozen in accordance with the laws of the country, and therefore the issue that such actions were taken to victimise certain parties should not arise,” it added.

The task force also urged all parties involved to fully cooperate with its ongoing investigations.

In a separate statement, the 1MDB Special Task Force said it has nothing to do with the freezing of the bank account of the Tunku Azizah Fertility Foundation (TAFF), as claimed by its founder Tengku Puan Pahang Tunku Azizah Maimunah Iskandariah.

“The freezing of the TAFF account has nothing to do with the 1MDB investigation currently being carried out by the 1MDB Special Task Force. In this regard, all parties are asked not to relate the issue to the 1MDB case investigation,” it said.

On June 30, Tunku Azizah Maimunah took to her official Twitter account @cheminahsayang to highlight that TAFF’s HSBC bank account had been frozen without any notification or reason. She said the foundation only realised the matter after a cheque issued was returned.

The task force is led by former attorney-general Tan Sri Abdul Gani Patail, former MACC chief commissioner Tan Sri Abu Kassim Mohamed, MACC chief Datuk Seri Mohd Shukri Abdull and Special Branch chief Datuk Abdul Hamid Bador.