MACC: Special taskforce to be formed to recover 1MDB assets abroad

PUTRAJAYA: A special taskforce will be formed to recover assets related to 1Malaysia Development Bhd (1MDB) abroad, believed to be in the region of US$5bil, says the anti-graft agency.

Malaysian Anti-Corruption Commission deputy chief commissioner (operations) Datuk Seri Azam Baki said the taskforce would be led by the National Financial Crime Centre.

"There are many more assets which we want to recover, including in the United States, United Kingdom and Hong Kong.

"We are in the midst of forming this special team to cover the outstanding assets," he said to reporters on Friday (June 21).

Azam said aside from 1MDB, some of the assets to be recovered are those belonging to SRC International.

He said the team was necessary as, aside from money trail which requires extensive investigations, legal matters and cooperation with foreign authorities needed to be established.

To date, the government has recovered assets related to1MDB worth RM919mil.

The MACC is in the process of forfeiting assets worth RM270mil from 41 individuals and local entities.