Malaysia must 'move on' from the 1MDB scandal, International Trade and Industry Minister Mustapa Mohamed has said.

AFP quoted Mustapa saying "We've learned many lessons and we are moving forward", from the scandal which had embroiled top figures, including politicians in Malaysia, and caused an international embarrassment to Malaysia.

"Essentially we have to move on and we have confidence that a number of issues that came to the limelight as a result of 1MDB will at some point, be behind us.

"We have the authorities to go after those responsible for creating the mess. The law is taking its course," he was quoted telling AFP on the sidelines of the World Economic Forum in Davos, Switzerland.

1MDB, a development fund set up by Prime Minister Najib Abdul Razak in 2009, is the subject of probes in at least 10 countries, as investigators allege that huge sums of money were misappropriated from the fund to among
others, buy art, real estate and invest in Hollywood movies.

It had also been alleged that money from the fund had been diverted into Najib's personal accounts. Najib had denied any wrongdoing.

In Singapore, several individuals have been jailed and fined for links with the scandal while the United States, through its Department of Justice (DOJ), has initiated a civil action suit to recover billions allegedly misappropriated from the funds.

Malaysia however, had yet to see a single conviction - leading to accusations that it had failed to contain a scandal of such magnitude.