PETALING JAYA: Over RM30bil has been recovered so far from assets linked to the 1Malaysia Development Bhd (1MDB) scandal, says Malaysian Anti-Corruption Commission (MACC) chief commissioner Tan Sri Azam Baki.
He said efforts to trace and return the remaining funds continue to be a priority through international cooperation with the United Kingdom, Switzerland, Barbados and Kuwait.
"The original losses were about RM42bil, and when you include interest and other factors, the actual losses are even higher.
"We are working closely with foreign governments to bring back as much of this money as possible," he told Sinar Harian during a recent interview.
Azam said the asset recovery process is being carried out through criminal forfeiture under Malaysian law, while 1MDB has appointed its own lawyers to pursue civil recovery cases abroad.
He said from January to August this year, the MACC had executed seizures amounting to RM6.81bil.
"Our focus is not only on prosecution as we are also exploring other legal avenues to ensure the seized assets are returned to the country," he said.
He said the commission’s firm stance is not the result of political instruction but a commitment to its mandate.
"We act without fear. Some may feel offended or disagree with the reopening of old cases.
"But if those cases caused major losses to the country, it is our duty to investigate," he said.
Azam explained that corruption-related crimes have grown more complex since the early 2000s, evolving from abuse of power into sophisticated financial crimes.
To keep up, he said, MACC officers now undergo international training in operations, prevention, and financial crime investigation.
Citing an example, Azam said corruption has cost Malaysia an estimated RM277bil in losses over the years, mainly through inflated project costs and revenue leakages in procurement and tender processes.
He voiced strong support for the newly passed Government Procurement Act, which includes mandatory beneficial ownership declarations to curb cartel control and bid manipulation.
