UPDATED 12.50PM | Authorities are probing BN component parties and lawmakers which allegedly received 1MDB-linked funds, according to a report by Singapore's Straits Times.

The report claimed that investigations could trigger "serious political aftershocks" because the parties or proxies in possession of the funds could find their accounts frozen pending the completion of the probe or trial.

"Elected representatives would not only have their bank accounts frozen but could also face being disqualified as MPs or state assemblyperson if found guilty," read the report.