THE Labuan Offshore Financial Services Authority (Lofsa) will not hesitate to take legal action against any offshore banks based in Labuan, including revocation of their operating licences, should they be found breaking the law.
Bank Negara governor Tan Sri Dr Zeti Akhtar Aziz, who is also Lofsa chairman, said the government would do all it could to protect the status and reputation of Labuan as an offshore financial centre.
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