BNM joint raid snags assets worth RM18m, 12 detained
KUALA LUMPUR: The authorities arrested four Malaysians and eight foreigners in raids on 14 premises, including three licensed money services operations, in the Klang Valley recently.
They also questioned 23 people to facilitate investigations into offences under the Money Services Business Act 2011 (MSBA) and the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (AMLATFA).
Bank Negara yesterday said the raiding party seized several documents and froze a number of bank accounts.
The joint operation, led by Bank Negara, saw the seizure of ringgit and foreign currencies, gold wafers and luxury vehicles worth more than RM18 million.
Agencies involved in the joint raid included the National Revenue Recovery Enforcement Team of the Attorney-General’s Chambers, police and the Immigration Department.
“The premises were raided for suspected offences under MSBA and AMLATFA,” the statement said.
“Anyone carrying out business activities, such as money changing and remittances without a licence, commits an offence under Section 4(1) of the MSBA and shall be liable to a fine not exceeding RM5 million or imprisonment not exceeding 10 years or both.
“Any person who engages in money laundering activities commits an offence under Section 4(1) of AMLATFA and shall be liable to imprisonment not exceeding 15 years and a fine of not less than five times the sum or value of the proceeds of an unlawful activity or instrumentalities at the time the offence was committed or RM5 million, whichever is higher.”
Bank Negara urged the public not to conduct money changing or remittance transactions with illegal operators, and to deal only with licensed money services business operators listed on the Bank Negara website.
“Those who conduct transactions with a illegal money services business operators does so at own risk, and appropriate legal action can be taken against them by the authorities.”