Malaysia's commitment to fight corruption via UNCAC
COMMENT | Malaysia signed the United Nations Convention against Corruption (UNCAC) on Dec 9, 2003, and ratified it on Sept 24, 2008. This important decision marked a new chapter in Malaysia's efforts to fight corruption.
Since then, Malaysia has introduced significant reforms and implemented measures aligned with international standards as required by UNCAC.
Under UNCAC's implementation review mechanism, Malaysia completed two cycles of peer review. In the first cycle...
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Malay Mail
2 days ago
- Malay Mail
‘Tan Sri' sukuk fund scandal: MACC says seizure, freezing of assets now totalling RM85m
KUALA LUMPUR, May 31 — The Malaysian Anti-Corruption Commission (MACC) has seized and frozen assets and bank accounts worth an estimated RM85.6 million as part of an ongoing investigation into the alleged misuse of sukuk funds linked to a Klang Valley highway project. The probe centres on a concessionaire with the honorific title Tan Sri, suspected of diverting project financing for personal use. MACC Chief Commissioner Tan Sri Azam Baki said the seizures include 14 individual bank accounts totalling RM4.5 million and eight company accounts amounting to RM33 million. Also confiscated were luxury vehicles (RM7.65 million), designer handbags (RM3 million), jewellery (RM6 million), high-end watches (estimated at RM7 million) and properties valued at RM24.5 million. 'We believe hundreds of millions in sukuk funds were channelled to the contractor's company, owned by the Tan Sri, and later misused for personal interests rather than the intended highway project,' Azam said when contacted. The funds were allegedly transferred to multiple entities, including proxy companies and the personal account of the Tan Sri's wife, and used to acquire assets such as real estate, luxury vehicles and goods and to fund gambling activities. Azam added that the money may also have been used to finance local and overseas property purchases and investments, which were concealed through layered transactions designed to obscure their origin. As of now, investigators have not yet recorded a statement from the Tan Sri due to his current hospitalisation. 'We are reviewing the acquisition trail of these assets and obtaining relevant bank documents, including those tied to the suspect, to support our analysis,' he said. To date, 45 individuals have had their statements recorded, with another 30 to 50 witnesses expected to be called in. Family members of the Tan Sri may also be summoned. Earlier media reports noted that MACC had seized various luxury items, including handbags, jewellery, watches, vehicles, cash, and high-end residences, worth around RM32 million, believed to be linked to the same individual. During a Thursday operation, officers also discovered a storage room stocked with luxury alcoholic beverages valued at about RM3 million, suspected to be tied to money laundering activities. All assets were seized under the MACC Act 2009 and the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act (AMLA) 2001 for further investigation. — Bernama
Free Malaysia Today
2 days ago
- Free Malaysia Today
RM85.6mil in assets seized so far in highway sukuk fund misuse, says Azam
MACC chief commissioner Azam Baki said hundreds of millions in sukuk funds were channelled to a Tan Sri's company and later misused for personal interests rather than the intended highway project. KUALA LUMPUR : The Malaysian Anti-Corruption Commission (MACC) has seized and frozen assets and bank accounts worth an estimated RM85.6 million as part of an ongoing investigation into the alleged misuse of sukuk funds linked to a Klang Valley highway project. The probe centres on a concessionaire with the honorific title Tan Sri, suspected of diverting financing for the project for personal use, Bernama reported. MACC chief commissioner Azam Baki said the seizures included 14 individual bank accounts totalling RM4.5 million and eight company accounts amounting to RM33 million. Also confiscated were luxury vehicles (costing RM7.65 million), designer handbags (worth RM3 million), jewellery (valued at RM6 million), high-end watches (estimated to cost RM7 million) and properties valued at RM24.5 million. 'We believe hundreds of millions in sukuk funds were channelled to the contractor's company, owned by the Tan Sri, and later misused for personal interests rather than the intended highway project,' Azam said when contacted. The funds were allegedly transferred to multiple entities, including proxy companies and the personal account of the Tan Sri's wife, and used to acquire assets such as real estate, luxury vehicles and goods, and to fund gambling activities. Azam added that the money may also have been used to finance local and overseas property purchases and investments, which were concealed through layered transactions designed to obscure their origin. As of now, investigators have not yet recorded a statement from the Tan Sri as he has been admitted to a hospital. 'We are reviewing the acquisition trail of these assets and obtaining the relevant bank documents, including those tied to the suspect, to support our analysis,' he said. To date, 45 people have had their statements recorded, with another 30 to 50 witnesses expected to be called in. Family members of the Tan Sri may also be summoned. Earlier media reports noted that MACC had seized various luxury items, including handbags, jewellery, watches, vehicles, cash and high-end residences, worth around RM32 million, believed to be linked to the same individual. During a Thursday operation, officers also discovered a storage room stocked with luxury alcoholic beverages valued at about RM3 million, suspected to be tied to money laundering activities. All assets were seized under the MACC Act 2009 and the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 for further investigation.
Malay Mail
2 days ago
- Malay Mail
MACC seizes six luxury homes worth RM12m, thoroughbred horse in sukuk funds scandal involving ‘Tan Sri'
KUALA LUMPUR, May 31 – The Malaysian Anti-Corruption Commission (MACC) has seized six luxury homes and a plot of land belonging to a 'Tan Sri' as part of a probe into the alleged misappropriation of sukuk funds meant for highway construction in the Klang Valley. The Star reported citing a source saying properties, estimated to be worth around RM12 million, were confiscated following a raid conducted by the MACC's investigation division. 'During the raid, the MACC also discovered a thoroughbred horse worth hundreds of thousands of ringgit, believed to have been purchased using sukuk funds,' the MACC said in a statement yesterday. 'As a result, the MACC has summoned the individual involved along with his wife for questioning, but only the woman appeared, as her husband reportedly has health issues." MACC added that it planned to call between 30 and 50 witnesses to assist with the investigation. Efforts are ongoing to trace the couple's assets both locally and abroad. Earlier this week, the MACC seized luxury assets worth RM32 million during raids on two residences belonging to the Tan Sri in the capital. MACC investigators confiscated nine high-end vehicles including Bentley, Mercedes-Benz, and Range Rover models valued at nearly RM7 million. The operation also uncovered 217 luxury watches worth RM5 million, 27 designer handbags valued over RM1 million, and jewellery estimated at RM4 million. A hidden storage area containing luxury alcoholic beverages worth RM3 million was also found, believed to be linked to money laundering activities. MACC further seized a RM12 million luxury condominium, with all items now being investigated under the MACC Act 2009 and AMLA 2001. The probe, which began on May 9, follows earlier arrests of four individuals accused of submitting false claims worth RM360 million for a highway project between 2016 and 2017, with over RM36 million in assets seized so far.
