This publication reports on latest developments surrounding the largest financial corruption scandal in Malaysia's history.

Legal authorities from Switzerland and Malaysia have met to discuss how to co-operate over tackling a huge corruption scandal in the Asian country that has seen the Alpine state freeze accounts.

“On September 15, during the general meeting of the International Association of Prosecutors held in Zurich, a meeting was held between the Swiss and the Malaysian attorney generals, Michael Lauber and Tan Sri Dato' Sri Mohamed Apandi Ali,” a statement from the Office of the Attorney General of Switzerland said.

As previously reported here, the OAG has frozen the money held in Swiss bank accounts linked to 1Malaysia Development Berhad, or 1MDB, on suspicion of corruption and money laundering. The OAG has not given an exact figure for the amounts involved, but said it amounted to several tens of millions of dollars.

The fund, which was founded by Malaysia's prime minister, Najib Razak, has amassed $11 billion in debt. Controversy over Najib’s involvement with the fund has turned the matter into a major scandal in the country. Reports describe it as the largest ever corruption scandal in Malaysia. It has been reported that Malaysian investigators tracked down movements of hundreds of millions of dollars into what they thought were Najib’s personal bank accounts.

In March, the state-run investment organisation said: “The 1Malaysia Development Berhad has received a clean audit report (unqualified) for its audited financial statements for the year 2010-2014 by the Companies Commission of Malaysia.”

In the OAG statement yesterday, it said of the meeting with Malaysian legal officials: “The Swiss authorities have reminded that, in the Swiss system, the investigation has for objective to establish the truth, and that the co-operation of Malaysia is crucial.”

It added: “The Swiss authorities have welcomed the proposition of Malaysia to arrange for key witnesses to be heard by the Swiss investigators after the Malaysian authorities received the respective formal request.”