KUALA LUMPUR, May 24 — 1 Malaysia Development Berhad (1MDB) acknowledged today the closure of BSI Bank in Singapore by the republic’s financial regulator for money-laundering violations and other misconducts.

However, the Malaysian sovereign investment firm that had been linked to the Swiss bank branch said it had not been contacted by “any foreign lawful authority on matters relating to the company”.

In a short statement, 1MDB asserted it is will fully cooperate with any foreign lawful authority investigating all transactions involving its funds according to international protocols.

“1MDB confirms that its ownership of various fund investments has not been impacted by the announcements today,” it added.

Earlier today, the Monetary Authority of Singapore (MAS) announced it was withdrawing approval for BSI Bank to operate as a merchant bank after detecting “serious lapses in its advisory work” dating back to 2011.

MAS said it will also recommend criminal charges against six executives with BSI Bank that was investigated over its dealings with a Malaysian investment firm.

Singapore is already prosecuting a former BSI private banker on at least seven charges as part of the probe into the bank’s transactions involving a Malaysian firm.

The charges include forgery, money laundering, cheating BSI by dishonest concealment and obstructing justice, among others.