KUALA LUMPUR: Bank Negara Malaysia (BNM) has raided five premises in Perak, Pahang and Negeri Sembilan in a crackdown on suspected illegal money services and seized documents, cash and foreign currencies. The central bank said in a statement yesterday that it raided the premises last Thursday for suspected offences under the money services Business Act 2011 (MSBA) and the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (AMLATFA). ?In the same raiding operations, four illegal immigrants who were involved in manning the premises were detained by the immigration department,? it said. The five premises involved in the raids were DJ Travel & Tour Sdn Bhd in Lumut and Sitiawan, Fathima Warisan Enterprise in Giant Supermarket Senawang, and Habeeb Textiles in Kuantan and Muadzam Shah. BNM said any person or company operating currency services, such as money changing and remittance activities, without a licence, is committing an offence under section 4(1) of the MSBA and shall be liable to a fine not exceeding RM5 million, or imprisonment not exceeding 10 years, or both. Persons convicted under section 4(1) of the AMLATFA shall be liable to imprisonment of up to 15 years and a fine of not less than five times the sum or value of the proceeds of an unlawful activity at the time the offence was committed or RM5 million, whichever is higher. BNM advises members of the public to deal only with licensed operators that can be identified by the official logo of Malaysian Association of money services Business displayed at their counters.The list of licensed money services business operators can be found on BNM?s website. ?Members of the public are advised not to conduct any money changing or remittance transactions with illegal money services business operators,? it said.
08-26-2017, 11:11 PM
BNM raids places in illegal money services probe
KUALA LUMPUR: Bank Negara Malaysia (BNM) has raided five premises in Perak, Pahang and Negeri Sembilan in a crackdown on suspected illegal money services and seized documents, cash and foreign currencies. The central bank said in a statement yesterday that it raided the premises last Thursday for suspected offences under the money services Business Act 2011 (MSBA) and the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (AMLATFA). ?In the same raiding operations, four illegal immigrants who were involved in manning the premises were detained by the immigration department,? it said. The five premises involved in the raids were DJ Travel & Tour Sdn Bhd in Lumut and Sitiawan, Fathima Warisan Enterprise in Giant Supermarket Senawang, and Habeeb Textiles in Kuantan and Muadzam Shah. BNM said any person or company operating currency services, such as money changing and remittance activities, without a licence, is committing an offence under section 4(1) of the MSBA and shall be liable to a fine not exceeding RM5 million, or imprisonment not exceeding 10 years, or both. Persons convicted under section 4(1) of the AMLATFA shall be liable to imprisonment of up to 15 years and a fine of not less than five times the sum or value of the proceeds of an unlawful activity at the time the offence was committed or RM5 million, whichever is higher. BNM advises members of the public to deal only with licensed operators that can be identified by the official logo of Malaysian Association of money services Business displayed at their counters.The list of licensed money services business operators can be found on BNM?s website. ?Members of the public are advised not to conduct any money changing or remittance transactions with illegal money services business operators,? it said.
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