PARIT: The National Anti-Financial Crime Centre (NFCC) is set to present a draft amendment to the NFCC Act 2019 (Act 822) to the Cabinet next January, aimed at coordinating the management of seized and forfeited assets at the national level, among other functions.
NFCC deputy director-general Ahmad Sazilee Abdul Khairi said that currently, the management of seized assets is implemented separately by every enforcement agency according to their respective jurisdiction, without centralised coordination.
"The absence of a centralised control system has resulted in some seized government assets being poorly managed, with some disposed of as scrap metal, despite having the potential to yield higher returns if managed systematically.
"When NFCC is given the mandate as the central agency, seized assets such as vehicles can be re-evaluated, refurbished and sold according to appropriate market value, rather than being disposed of without providing adequate returns to the government," he told the press here on Friday (Oct 10).
Meanwhile, Ahmad Sazilee said the NFCC will implement a pilot project with several government agencies as a preliminary step, should the proposed amendment to the Act be approved.
"We are confident that the proposed amendment will receive support because the main objective is to streamline the governance of national assets, avoid wastage and ensure seized assets are no longer left neglected without value," he said. - Bernama
