MACC Tracks Illegal Proceeds Of International Fraud Syndicate
THE Malaysian Anti-Corruption Commission (MACC) is actively tracing the assets and money from the illegal activities of an international investment fraud syndicate that was successfully disabled in a massive operation named Op Tropicana last February.
Efforts to track this illegal assets and money are carried out in collaboration with Bank Negara Malaysia (BNM) and international bodies including Interpol, National Crime Agency (NCA – United Kingdom) and the Federal Bureau of Investigation (FBI).
This effort comes right after four main masterminds who are foreigners have been successfully charged in the Shah Alam sessions Court on 16th March 2023 and in the Butterworth sessions Court on 17th March 2023, three weeks after the operation was launched.
The four United Kingdom nationals were sentenced to prison and fined after pleading guilty to an alternative charge under Section 416 of the Penal Code.
Regarding the allegation that five major banks are being monitored by the MACC on their involvement in the fraud syndicate, it should be clarified that the investigation is more focused on the individuals rather than the financial institutions.
The individuals are a number of 'professional enablers' including bank officers, accountants and company secretaries who enabled the illegal syndicate to operate.
The MACC will continue to work closely with BNM and other enforcement agencies to combat international fraud syndicates.
THE MALAYSIAN ANTI-CORRUPTION COMMISSION
PUTRAJAYA
18th MARCH 2023
