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Malaysian Reserve
a day ago
- Business
- Malaysian Reserve
MACC seizes corruption-linked assets totalling RM31.4b
by AZALEA AZUAR THE Malaysian Anti-Corruption Commission (MACC) has confiscated assets worth RM31.4 billion linked to corruption over the past five years. MACC chief commissioner Tan Sri Azam Baki (picture) said the commission also forfeited nearly RM28 billion in assets over the same period, which included about RM183 million seized in raids on smuggling syndicates during Op Metal. 'Also seized were real estate valued at RM620 million in the investigation into the fibre network development project, as well as cash, luxury cars and bank accounts totalling RM36 million in a case involving the embezzlement of highway construction funds. 'MACC also seized luxury assets worth RM32 million from the residence of a 'Tan Sri', including 217 luxury watches and 27 designer handbags,' he said in a statement. Azam added that MACC's Anti-Money Laundering (AML) Division is currently holding 41 immovable properties, including land and buildings, which all are pending disposal. He explained that these operations clearly demonstrate the commission's proactive efforts to detect, investigate and take decisive action against individuals involved in corruption and money laundering. 'This figure is not just a statistic, but reflects the extent of the MACC's commitment to recovering assets from criminal proceeds for the country,' he added. Azam believed these efforts would help recover national revenue and boost public trust in Malaysia's enforcement agencies. Meanwhile, Bernama reported that on July 16 this year, MACC raided two electronic waste (e-waste) recycling factories in Penang suspected of bribing enforcement officers, leading to significant tax revenue losses. The coordinated raids were conducted under Op Metal which targeted one factory on Jalan Perusahaan Perai 3 in the Perai Industrial Area and another in Bukit Minyak, Bukit Mertajam. It followed the recent exposure of a scrap metal smuggling syndicate, in which scrap metal was falsely declared as machinery and other items not subject to the government's 15% export tax.
Malaysiakini
a day ago
- Business
- Malaysiakini
MACC nets RM31.4b in seizures, RM28b in forfeitures in 5 years
The MACC has seized assets worth RM31.4 billion from corruption-related activities over the past five years. Its chief commissioner Azam Baki said the commission had also successfully forfeited assets valued at nearly RM28 billion during the same period.
Malaysiakini
2 days ago
- Business
- Malaysiakini
MACC nets RM31.4b in seizures, RM28b in forfeitures in 5 years
The MACC has seized assets worth RM31.4 billion from corruption-related activities over the past five years. Its chief commissioner Azam Baki said the commission had also successfully forfeited assets valued at nearly RM28 billion during the same period.
New Straits Times
2 days ago
- Business
- New Straits Times
MACC seizes over RM31 billion in assets over five years
KUALA LUMPUR: The Malaysian Anti-Corruption Commission (MACC) has seized assets worth more than RM31.4 billion over the past five years, with almost RM28 billion of that amount successfully forfeited to the government. The seizures stemmed from investigations into smuggling syndicates, misappropriation of funds and luxury assets acquired through criminal activity — including properties, cash, luxury vehicles, branded watches, and designer handbags. MACC chief commissioner Tan Sri Azam Baki said the achievement was the result of various investigation operations that not only dismantled corruption and money laundering activities but also recovered misappropriated national assets. "In the past five years, MACC has successfully seized assets worth more than RM31.4 billion and forfeited nearly RM28 billion. "This includes major operations such as Op Metal, which saw the seizure of assets worth more than RM183 million following raids on a steel smuggling syndicate," he said in a statement today. Other seizures included RM620 million worth of property linked to a fibre network project, as well as RM32 million in luxury assets from the residence of a "Tan Sri," which comprised 217 luxury watches and 27 branded handbags. "In a separate case involving the misappropriation of highway construction funds, MACC seized more than RM36 million in assets, including cash, luxury cars, and bank accounts," Azam said. He added that one of MACC's key roles through its Anti-Money Laundering (AML) Division is to recover and forfeit both immovable and movable properties obtained through criminal activity. "This effort is significant not only in returning assets to the nation but, more importantly, in restoring public confidence in the country's enforcement agencies. All these operations clearly show that MACC remains proactive in detecting, investigating, and taking firm action against those involved in corruption and money laundering," he said. Azam stressed that the seizure and forfeiture of assets is a critical step in ensuring that criminals are unable to enjoy the proceeds of their illegal activities, sending a strong message that crime does not pay. However, he acknowledged that disposing of forfeited immovable property is not straightforward, as it involves complex legal compliance and lengthy processes, especially when appeals or legal disputes arise. Currently, the MACC is managing 41 properties awaiting disposal, with the main challenge being the lack of a uniform mechanism and specific allocation for maintenance and legal costs.
Sinar Daily
2 days ago
- Business
- Sinar Daily
MACC nets RM31.4 billion in seizures, RM28 billion in forfeitures in five years
In addition, the MACC's Anti-Money Laundering Division is currently managing 41 immovable properties, including land and buildings, that are still awaiting disposal. 15 Aug 2025 11:54am The Malaysian Anti-Corruption Commission (MACC) has seized assets worth RM31.4 billion from corruption-related activities over the past five years. BERNAMA FILE PIX KUALA LUMPUR - The Malaysian Anti-Corruption Commission (MACC) has seized assets worth RM31.4 billion from corruption-related activities over the past five years. Its chief commissioner Tan Sri Azam Baki said the commission had also successfully forfeited assets valued at nearly RM28 billion during the same period. He said the amount included assets worth about RM183 million seized during raids on smuggling syndicates under Op Metal. MACC chief commissioner Tan Sri Azam Baki. Bernama FILE PIX "Also seized were real estate valued at RM620 million in the investigation into the fibre network development project, as well as cash, luxury cars and bank accounts totalling RM36 million in a case involving the embezzlement of highway construction funds. "MACC also seized luxury assets worth RM32 million from the residence of a 'Tan Sri', including 217 luxury watches and 27 designer handbags,' he said in a statement today. In addition, he said the MACC's Anti-Money Laundering (AML) Division is currently managing 41 immovable properties, including land and buildings, that are still awaiting disposal. Azam described the operations as clear evidence of the MACC's proactive approach in detecting, investigating and taking firm action against those involved in corruption and money laundering. "This figure is not just a statistic, but reflects the extent of the MACC's commitment to recovering assets from criminal proceeds for the country,' he said. He added that such efforts would not only restore revenue to the nation but also strengthen public confidence in the country's enforcement agencies. - BERNAMA More Like This
