Putrajaya has been urged to explain why there appeared to be no "visible action" against two top bankers who were allegedly involved in the 1MDB controversy.

Petaling Jaya Utara MP Tony Pua said that thus far, Putrajaya had only claimed that "enforcement action" was taken against the duo without offering proper details.

He said the duo had been accused by international publications of having links with Jho Low and was involved in illicit money transfers related to the 1MDB controversy.

When he queried the finance minister on this recently, while specifically naming the two individuals, Najib Abdul Razak replied:

"Bank Negara has undertaken investigations on financial institutions relating to 1MDB under Financial Services Act 2013, Islamic Financial Services Act 2013, and Anti-Money Laundering Act 2001...

"Based on investigation results, enforcement actions have been duly executed by Bank Negara with the powers provided to it under the law".

Learn from Singapore

Pua pointed out that Najib made no mention of what action was taken against the bank and the two individuals involved.

"In fact, as far as we are aware, both (individuals) are free men," said Pua, adding that one of them still held directorship positions in two listed companies.

"If Bank Negara has indeed taken action against him for abetting money laundering offences, can he still be chairperson and director of public listed companies?" asked Pua.

In contrast, said Pua, the Singaporean authorities appear to be pursuing related matters with more vigour and transparency.

He pointed out that BSI Bank Singapore former banker Yeo Jiawei was facing charges for money laundering, cheating and forgery, while former private banker Yak Yew Chee had already pleaded guilty to money laundering charges.

Singaporean prosecutors told the courts that both Yeo and Yak were in contact with Low, regarding transactions related to 1MDB.

In this case of Malaysia, Pua said the authorities were far less forthcoming.

"Unfortunately, the new governor of Bank Negara's silence and reticence in tackling the money laundering scandal will only serve to enhance Malaysia's reputation as global kleptocracy," he said.