Govt tables Bill to coordinate financial crime probes


Reports by HEMANANTHANI SIVANANDAM, MARTIN CARVALHO, RAHIMY RAHIM and TARRENCE TAN

A proposed National Anti-Financial Crime Centre (NAFCC) to coordinate probes and manage centralised data on financial crime will have no investigative powers, said Minister in the Prime Minister’s Department Datuk Liew Vui Keong (pic).

Tabling the Bill for first reading in Parliament, Liew said the centre would streamline probes into financial crimes committed locally and abroad by enforcement agencies.

“The NAFCC is not a new law enforcement agency on its own. It has no investigative powers.

“The centre will not diminish, abolish or eliminate the functions or powers of any existing enforcement agencies, ” he told reporters after tabling the Bill.

The setting up of the NAFCC, said Liew, was an initiative under the National Anti-Corruption Plan

2019-2023, aimed at coordinating enforcement actions to combat financial crimes.

Liew said the NAFCC would help coordinate the efforts of 12 existing enforcement agencies, including the police, the Customs Department, the Malaysian Anti-Corruption Commission and Bank Negara.

Under the Bill, the NAFCC, will comprise an Advisory Board headed by a chairman, a director-general and five members appointed by the Yang di-Pertuan Agong on the advice of the Prime Minister.

The appointments will be for a period not exceeding three years with eligibility for reappointment upon expiry of their term.

The advisory board will advise the Prime Minister on any aspect related to financial crimes, including making recommendations.

The NAFCC will also have an executive committee - to be headed by a director-general - whose functions will include determining its operational policies.


   

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