MACC tracing assets, money belonging to international investment scam syndicate

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MACC will continue to work closely with BNM and other enforcement agencies to combat international scam syndicates. theSun theSundaily corruption scam syndicate MACC BNM

PUTRAJAYA, 23 Feb -- The Malaysian Anti-Corruption Commission in collaboration with the Immigration Department successfully foiled an investment fraud syndicate orchestrated by United Kingdom nationals in raids around the capital and Penang.

MACC said these efforts are following the arrest of the four foreigners, masterminds behind the syndicate, who were charged in the Shah Alam Court on March 16 and in the Butterworth Court on March 17, which is within three weeks of the operation being launched. Previously, five British citizens and two Philippines nationals were among 10 individuals arrested by the MACC in raids in Kuala Lumpur and Penang on Feb 21 in connection with an international investment fraud syndicate that also involved money laundering and corruption.

On allegations that five major banks are being monitored by the MACC regarding their involvement in the fraud syndicate, the MACC said the investigation is more focused on the individuals involved and not on the financial institutions specifically.

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