Bank Negara Malaysia,Kuala Lumpur. IRSYADI ISMAIL,THE STAR, 4 FEBRUARY 2016 Reporter Joseph Chin
KUALA LUMPUR: Koperasi Dinar Dirham Bhd’s premises were raided on Tuesday under a joint operation by Bank Negara, the police, the National Revenue Recovery Enforcement Team of the Attorney-General’s Chamber, Malaysia Co-Operative Societies Commission and Cyber Security Malaysia.
The central bank said in a statement that Koperasi Dinar Dirham was suspected to have committed an offence under the Financial Services Act 2013 (FSA) and the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (AMLA).
The joint raiding operation is one of the continuous inter-agencies measures to eradicate illegal financial scheme activities.
Bank Negara said they raided nine premises related to Koperasi Dinar Dirham in Kuala Lumpur and Selangor and its related affiliates, where relevant documents were seized to assist in investigation.
“Six company directors suspected to act as mastermind and agents for illegal deposit taking activities were arrested and remanded for two days to assist investigation,” it said.
The joint raiding operation also led to the seizure of eight vehicles valued more than RM1.5mil and freezing of 114 bank accounts in 12 banks amounting to RM15.3mil under the AMLA. Also seized were a sum of RM1.4mil in ringgit and foreign currencies as well as 22.5kg precious metals.
According to Bank Negara, the authorities are also working in collaboration with Brunei Financial Intelligence Unit in probing the company’s operation in Brunei for similar offence.
Under section 137(1) of the FSA, it is an offence for any person to accept deposits without a licence.
Investigations for money laundering offence will also be undertaken under the AMLA. If convicted, a person can be fined not less than five times the sum or value of the proceeds of unlawful activities at the time the offence was committed or RM5mil, whichever is higher, and be jailed up to 15 years.
Bank Negara advised members of the public not to deal with illegal deposit-taking company for purpose of investment. For further information, they should refer to licensed financial institutions which are listed on the central bank’s website (www.bnm.gov.my).
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