The association of ANZ's Malaysian associate AmBank with ongoing investigations into the 1Malaysia Development Bhd scandal may be elaborated as a US probe progresses.US authorities moved this week to seize US$1 billion of the state owned investment fund's assets, accusing it of defrauding Malaysians.The Australian reports that details of how more than $US680 million flowed through an account held by Malaysian Prime Minister Najib Razak at AmBank, which is nearly one-quarter owned by ANZ, are included in court filings by US authorities this week. Najib was cleared of any criminal behaviour earlier this year but people close to him are accused of spending billions of dollars taken out of 1MDB.The US Department of Justice yesterday publicised actions under its Kleptocracy Asset Recovery Initiative. These delve into how the funds, in an AmBank account held by the Prime Minister, were allegedly misused to acquire a variety of US assets.Related assessments by the Monetary Authority of Singapore may yet shed more light of any links of AmBank and ANZ, though neither was named in a MAS statement yesterday on "actions to be taken against financial institutions" in relation to the 1MDB affair.Certain banks in Singapore "were among those used as conduits for these transactions" the MAS said, citing "lapses and weaknesses in anti-money laundering controls," the statement said.The MAS has already withdrawn the status of BSI Bank, in May this year, citing "serious breaches of AML requirements and poor management oversight, and gross misconduct by some of the bank's staff."Now the inspections of DBS Bank, Standard Chartered Bank (Singapore Branch) and UBS (Singapore Branch) are complete, with the MAS reporting "instances of control failings in all three banks and, in some cases, weaknesses in the processes for accepting clients and monitoring transactions."There was also undue delay in detecting and reporting suspicious transactions," the MAS said.However, it said the deficiences related to lapses in specific processes and by individual officers which, although they would be met with "firm regulatory actions", did not reveal what the MAS called "pervasive control weaknesses or staff misconduct within these banks, unlike in the case of BSI."The MAS also found "substantial breaches of AML regulations" by Falcon Private Bank in Singapore, but said this investigation was ongoing as said the the oversight and management of "certain key client relationships" was done out of the Swiss head office, from where further information has been requested. The regulator added: "MAS' examination of certain other FIs are ongoing. ...  MAS will take decisive regulatory actions against any FI that has breached regulations or failed to meet the expected AML standards."