Latest news with #NorYatiAhmad
New Straits Times
20-05-2025
- Business
- New Straits Times
RM10.4m fraud by civil servants uncovered at federal department
KUALA LUMPUR: Fraudulent transactions involving RM10.4 million by civil servants were uncovered at a federal department, said Accountant General Nor Yati Ahmad. She said investigations from 2019 to 2024 into public fund misappropriation had led to the recovery or detection of about RM18 million in losses. "From 2019 to 2024, based on the transactions we investigated involving losses of public funds, we have resolved and detected around RM18 million. "There was one case involving civil servants, amounting to RM10.4 million. It occurred at a federal department. Enforcement authorities have taken follow-up action," she said at a press conference after launching the Accounting Fraud Working Group here today. Present were Malaysian Anti-Corruption Commission Chief Commissioner (MACC) Tan Sri Azam Baki and Auditor General Datuk Wan Suraya Wan Mohd Radzi. Nor Yati said most accounting fraud cases involved manipulation of procedures and financial processes, including tampering with accounting and financial management systems. She said the department, aside from taking firm action based on third-party reports and other sources, is also taking a proactive approach by leveraging current digital technologies. This includes analysing financial data to detect red flags and identify unusual or suspicious transactions. "We are doing this now and will continue to do so. It is now part of our standard work processes at the National Accounting Department nationwide." Earlier in her speech at the event, Nor Yati said public sector agencies must adopt a collaborative approach to navigate an increasingly challenging and complex technological landscape. She said this could be achieved through cooperation and the sharing of best practices among public and private sector agencies to strengthen fraud prevention policies, regulations and methodologies. "The Madani government, which emphasises the principles of governance and integrity, stands to benefit significantly from the implementation of the Accounting Fraud Working Group. "The Accountant General's Department is fully committed to supporting and helping this group in achieving its objectives. We believe that through this strategic synergy, efforts to combat fraud can be carried out more effectively and comprehensively." The working group would be spearheaded by MACC and include the Auditor General's Department, Accountant General's Department, Inland Revenue Board, Malaysian Companies Commission, Universiti Teknologi Mara and the Malaysian Institute of Accountants.
CNA
20-05-2025
- Business
- CNA
Malaysia says US$2.4 million fraud involving civil servants uncovered at government office in London
KUALA LUMPUR: A RM10.4 million (US$2.4 million) financial fraud case allegedly involving Malaysian civil servants was uncovered at a federal office in London on Monday (May 19), according to local media. This is among a series of cases, amounting to around RM18 million worth of public funds lost over the last five years, according to Malaysia's Finance Ministry. 'It occurred at a federal department (and) enforcement authorities have taken action,' said Accountant-General Nor Yati Ahmad from the Finance Ministry as quoted by local news outlet New Straits Times (NST). The fraud involved manipulation of financial systems and unauthorised changes to accounting procedures, she added, as quoted by local media platform Free Malaysia Today. She was speaking at the launch of accounting fraud task force, the Accounting Fraud Working Group, in Kuala Lumpur on Monday. In her speech, Yati also said that public sector agencies must adopt a collaborative approach to navigate an increasingly challenging and complex technological landscape and this can be achieved through the sharing of best practices among public and private sector agencies to enhance fraud prevention policies, regulations and methodologies. She also said that most accounting fraud cases involved manipulation of financial procedures, including tampering with accounting and financial management systems. At the same event, Malaysia's Auditor General Wan Suraya Wan Mohd Razi said that all federal and state agencies, statutory bodies, as well as 1,875 government-linked companies flagged in her annual report, must return the misappropriated funds. 'If there are any irregularities such as uncollected or unreceived revenue, follow-up action will be taken,' she was quoted as saying by The Edge. Besides taking firm action based on third-party reports and other sources, the Accountant General Department is also leveraging current digital technologies to analyse financial data and identify unusual or suspicious transactions as part of 'standard work processes' at the National Accounting Department nationwide, reported NST. ACCOUNTING FRAUD TASK FORCE LAUNCHED TO STRENGTHEN FUND RECOVERY EFFORTS The Accounting Fraud Task Force launched on Monday, according to Malay Mail, will serve as a cross-agency platform for strategic collaboration to comprehensively address accounting fraud. Malaysia's Anti-Corruption Commission (MACC), the Accountant General's Department and the Inland Revenue Board are among the agencies forming the task force, local media reported. At the event, MACC chief Azam Baki described the launch of the Accounting Fraud Task Force on Monday as a strategic move to strengthen the country's efforts in recovering funds and assets linked to corruption and misappropriation, especially those hidden overseas. He said that the MACC, which is the lead agency of the task force, will ensure that detection, analysis and enforcement actions are carried out in a more efficient, coordinated and impactful manner. 'Dealing with cases involving the loss of national funds through complex syndicates that involve multiple parties is not an easy task. However, (through the task force), we can plug further leakages and recover stolen assets,' MACC's Azam was quoted as saying by Malay Mail. 'On the 1Malaysia Development Berhad (1MDB) case, it became clear that there is still much to be done, it's a challenging process that requires specialised expertise,' he added, describing the scandal as one of the most complex cases as many of the assets involved are located overseas. The task force's expertise will thus be 'vital in tracing assets via international collaboration,' Azam said. He also added that positive outcomes can be expected within the next six months from the task force, which will focus on asset recovery. Detailing on the economic impact of corruption in Malaysia, the anti-graft chief said that Malaysia had lost an estimated RM277 billion to corruption between 2018 and 2023, which is around RM55 billion annually based on GDP estimates. '(These figures) clearly show how corruption and related offences, such as document forgery, manipulation of financial statements and misappropriation of company funds, have undermined government policies, processes and service delivery as well as operations in the private sector,' Azam was quoted as saying by Malay Mail.
Malaysiakini
19-05-2025
- Business
- Malaysiakini
AGD uncovers RM10m fraud at Malaysian govt office in London
The Accountant General's Department (AGD) has uncovered a case of financial fraud involving a Malaysian government office in London, resulting in losses amounting to RM10.4 million. Accountant-General Nor Yati Ahmad said the case, which involved public servants, is among several identified between 2019 and 2024, with total losses estimated at RM18 million. 'Enforcement action...
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New Straits Times
19-05-2025
- Politics
- New Straits Times
News@9: Today's top headlines - May 20, 2025 [WATCH]
Here are today's biggest stories. Traffic disruption Six highways and 25 major roads in the Klang Valley will be closed or diverted in stages this week for the 46th Asean Summit. Fraudulent transactions Accountant-General Nor Yati Ahmad said fraudulent transactions involving RM10.4 million by civil servants were uncovered at a federal department. Sidestepped Thailand Open champs Pearly Tan - M. Thinaah sidestepped questions about their contract status with the Badminton Association of Malaysia, choosing instead to focus on this week's Malaysia Masters. That's it for News@9.
Malay Mail
19-05-2025
- Business
- Malay Mail
Accountant General's Dept uncovers RM10.4m fraud in federal government office
KUALA LUMPUR, May 19 — The Accountant General's Department of Malaysia (AGD) has uncovered a case of financial fraud involving a federal department, resulting in losses of amounting to RM10.4 million. Accountant General Nor Yati Ahmad said the case, which involved public servants, is among several identified between 2019 and 2024, with total losses estimated at RM18 million. "Enforcement action has already been taken in connection with the case,' she told a press conference after the launch of the Accounting Fraud Task Force (KKFP) here today. Also present at the launch were Malaysian Anti-Corruption Commission (MACC) Chief Commissioner Tan Sri Azam Baki and Auditor General Datuk Seri Wan Suraya Wan Mohd Radzi. Nor Yati said the fraud involved manipulation of financial systems and unauthorised changes to accounting procedures. She said the AGD is now taking proactive steps by using digital tools to analyse financial data and identify suspicious transactions or early warning signs. 'We're no longer relying solely on third-party reports. Technology-driven monitoring has become part of our standard operations and will continue to be strengthened,' she said. Meanwhile, in her speech, Nor Yati highlighted the increasing complexity of public sector accounting due to rapid technological and socio-economic developments, which require stronger collaboration across agencies. She said the establishment of KKFP aligns with the Madani government's focus on integrity and good governance, and is expected to enhance fraud prevention efforts in the public sector. 'The AGD is fully committed to supporting KKFP through strategic collaboration with relevant agencies. 'With collective efforts and the sharing of best practices, we can significantly improve the detection and prevention of financial fraud,' she added. — Bernama
