PETALING JAYA: While some parts of the Anti-Money Laundering, Anti-Terrorism Financing, and Proceeds of Unlawful Activities (AMLA) Amendment Bill 2024 were hailed, other parts have got anti-corruption activists worried.
Concerns have been raised particularly over the introduction of Sections 3A and 3B, which would empower the public prosecutor to request individuals to furnish written statements under oath or affirmation explaining how they acquired property deemed excessive relative to their income.
Failure to provide such an explanation would constitute an offence, according to the Bill’s explanatory statement.
Centre to Combat Corruption and Cronyism (C4) chief executive officer Pushpan Murugiah voiced apprehension about these new provisions.
He said there is the potential for abuse of power or conflict of interest if the public prosecutor operates closely with the Attorney General’s Chambers (AGC).
“It would be more effective to separate the Public Prosecution Office from the AGC to ensure the Public Prosecution Office operates independently,” he said.
Pushpan, however, acknowledged the necessity of other proposed amendments, particularly those that enhance cooperation between local and foreign authorities to combat money laundering more effectively.
MCA Public Services and Complaints Department head Datuk Seri Michael Chong welcomed the proposed amendments, emphasising their importance in tackling the growing number of money laundering cases in the country, including those involving foreign perpetrators.
“This is very serious, and I think the amendments are necessary,” he said.
He added that Malaysia should take the cue from other countries’ approaches to ensure the amendments are well-considered and do not appear overly authoritarian.
Similarly, Alliance for a Safe Community chairman Tan Sri Lee Lam Thye supported the amendments, describing them as a timely response to the increasing prevalence of money laundering.
“The time has come for the government to curb this issue with the right amendments,” he said.
“It sends a strong deterrent message to those who (have) ill-gotten gains that there will be severe penalties.”
On the other hand, Coalition for Clean and Fair Elections (Bersih) chairman Muhammad Faisal Abdul Aziz warned against rushing the amendments without comprehensive engagement with stakeholders.
“We need ample time to discuss the matter, especially when it involves laws related to severe punishments,” the chairman said.
He, however, acknowledged the need for improvements to the Act to address existing loopholes.
