Australia &New Zealand Banking Group Ltd. and National Australia Bank Ltd. have been dragged into Singapore'sinvestigations into allegedmoney laundering involving Malaysian state investment fund 1Malaysia DevelopmentBhd., or 1MDB, The Australian reportedMarch 31.

1MDB had been under global scrutiny after Malaysian Prime MinisterNajib Razak was accused of using the state fund to gain around US$1 billion.

Funds linked to the state fund passed through Singapore, the Monetary Authority of Singapore in the investigations. Theauthority had reportedly asked around 40 banks in the city-state to give informationon money flows from entities linked to 1MDB. Among the banks queried were ANZ andNational Australia Bank.

The two banks declined to comment on the matter, the publicationreported.