PUTRAJAYA: Laws on Beneficiary Ownership are crucial in the fight against corruption so that action can continue to be taken against the corrupt who have changed their modus operandi to hide ill-gotten gains, said the Malaysian Anti-Corruption Commission (MACC).
Its chief commissioner Datuk Seri Azam Baki said the corrupt had moved to laundering their illegally obtained wealth through registered companies with proxies and nominees as frontiers to hide their wealth.
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