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Malaysian Reserve
30-07-2025
- Business
- Malaysian Reserve
BNM fines Bank Islam, Bank Rakyat, BSN RM7.29m for regulatory breaches
BANK Negara Malaysia (BNM) has imposed a total of RM7.29 million in administrative monetary penalties on Bank Islam Malaysia Bhd (BIMB), Bank Kerjasama Rakyat Malaysia Bhd (Bank Rakyat), and Bank Simpanan Nasional (BSN) for various regulatory breaches, including prolonged service disruptions and lapses in anti-money laundering compliance. In separate announcements, BNM said the fines were issued under the Islamic Financial Services Act 2013 (IFSA), Development Financial Institutions Act 2002 (DFIA), and the Risk Management in Technology Policy Document (RMiT PD). BIMB was fined RM1.75 million for failing to ensure high availability of its critical systems, in breach of the RMiT PD. Between 1 June 2023 and 31 December 2024, BNM said BIMB experienced 'multiple unplanned downtimes that caused prolonged disruptions to its banking services, such as e-banking channels, debit card system and online payment transactions.' BNM found the disruptions were due to 'lapses in executing the response and recovery process to restore the disrupted systems promptly.' Separately, BIMB was fined another RM1.7 million for non-compliance with anti-money laundering and counter-financing of terrorism (AML/CFT) policies. This included delayed sanctions screening and reporting of transactions involving specified entities. 'BNM takes the breach seriously, as transactions were facilitated for the specified entities during the period before the identification and confirmation of positive name matches against the Domestic List,' the central bank said. Bank Rakyat was fined RM2.85 million for failing to meet system availability requirements under the RMiT PD between 1 June 2023 and 31 December 2024. BNM cited 'multiple unplanned downtimes that caused prolonged disruptions to its banking services, such as e-banking channels, Automated Teller Machines (ATMs), including debit and credit card systems.' The bank's non-compliance stemmed from 'lapses in executing the response and recovery process to restore the disrupted systems promptly,' impacting essential banking services. BSN was fined RM995,000 for similar failures in maintaining the uptime of critical systems. Between 1 June 2023 and 31 October 2024, the bank experienced prolonged IT outages that affected customer access to key services. BNM stated that the fine considered factors including 'the severity of the non-compliance, including the impact of the service disruptions on customers and counterparties.' BNM stressed the importance of operational resilience across the banking sector. 'BNM expects all financial institutions to maintain a high level of technology resilience against operational disruptions to ensure the continuous availability of essential financial services. BNM will not hesitate to take appropriate supervisory and enforcement actions when financial institutions fall short of regulatory expectations.' All three banks have since taken remedial actions to strengthen their IT infrastructure and compliance processes. — TMR
New Paper
29-06-2025
- New Paper
3 S'poreans charged in Malaysia over cocaine-laced vape liquid, face possible death penalty
Three Singaporean men were among four people charged in Kuala Lumpur on June 26 with trafficking a cocaine-laced e-vaporiser liquid. The three are Quek Kien Seng, 45, Tristan Chew Jin Zhong, 25, and Ivan Tan Zhi Xuan, 31, reported national news agency Bernama. They were charged alongside Malaysian Kong Sien Mee, 57, with trafficking 9,420.2ml of cocaine under Malaysia's Dangerous Drugs Act. If convicted, they face the death penalty, or life imprisonment with whipping. The charge was read to the four accused before Magistrate Amalina Basirah Md Top, and no plea was recorded from them as the case falls under the jurisdiction of the High Court. The Singaporeans were represented by lawyer Ille Maryam Yusnawannie, while Kong was unrepresented. The four men were arrested on June 19 in Selangor during a raid on a syndicate involved in the distribution of a cocaine-laced e-vaporiser liquid. Ten boxes containing 4,958 units of liquid vape cartridges suspected to contain cocaine, estimated to be valued at up to RM7.29 million (S$2.2 million), were found in a car during the raid. Narcotics Criminal Investigation Department acting director Mat Zani Mohd Salahuddin Che Ali said at a press conference on June 23 that the syndicate would rent luxury condominium units in Kuala Lumpur, where they would package the drugs before distributing them to other countries. The case will be mentioned in court again on Sept 8.
Straits Times
26-06-2025
- Straits Times
3 Singaporeans charged in Malaysia with trafficking cocaine-laced vape liquid, face death penalty
If convicted, they face the death penalty or life imprisonment with whipping. PHOTO: BERNAMA Three Singaporean men were among four people charged in Kuala Lumpur on June 26 for trafficking cocaine-laced e-vaporiser liquid. The Singaporeans are 45-year-old Quek Kien Seng , Tristan Chew Jin Zhong, 25, and Ivan Tan Zhi Xuan, 31 , reported national news agency Bernama . They were charged alongside Malaysian Kong Sien Mee, 57, with trafficking 9,420.2m l of cocaine under Malaysia's Dangerous Drugs Act . If convicted, they face the death penalty or life imprisonment with whipping. The charge was read to the four accused before Magistrate Amalina Basirah Md Top , and no plea was recorded from them as the case falls under the jurisdiction of the High Court. The Singaporeans were represented by lawyer Ille Maryam Yusnawannie , while Kong was unrepresented. The four men were arrested on June 19 in Selangor during a raid on a syndicate involved in the distribution of cocaine-laced e-vaporiser liquid. Ten boxes containing 4,958 units of liquid vape cartridges suspected to contain cocaine, estimated to be valued at up to RM7.29 million (S$2.2 million), were found in a car during the raid. Narcotics Criminal Investigation Department (NCID) acting director Mat Zani Mohd Salahuddin Che Ali said at a press conference on June 23 that the syndicate would rent luxury condominium units in Kuala Lumpur, where they would package the drugs before distributing them to other countries. The next court mention is Sept 8. Join ST's Telegram channel and get the latest breaking news delivered to you.
New Straits Times
24-06-2025
- New Straits Times
Police call for AI-monitoring system at courier centres to screen for drugs
KUALA LUMPUR: Federal police have suggested that artificial intelligence monitoring systems be used to monitor and screen parcels at courier centres for drugs. The move follows the latest bust involving the seizure of RM7.2 million worth of cocaine-laced vapes and equipment. Bukit Aman Narcotic Crime Investigation Department Director Datuk Mat Zani @ Mohd Salahuddin Che Ali said they believed the syndicate planned on shipping the drugs out via courier service to interested parties abroad. "We believe courier centres will greatly benefit from using artificial intelligence monitoring systems to screen parcels and shipments for drugs," he said when contacted today. Yesterday, it was reported that police crippled the country's first-known cocaine vape distribution syndicate following the arrest of four men, including three Singaporeans, in Ampang Jaya last week. The arrests were carried out on June 19, following intelligence received on their activities. The first suspect, a 57-year-old local, was detained along with two Singaporeans, aged 46 and 25, in a Toyota Vellfire parked at the exit lane of a hotel in Ampang Jaya. A fourth suspect, a 31-year-old Singaporean, was nabbed shortly after at the lobby of the same hotel. A search of the vehicle led to the discovery of 10 boxes containing 4,958 vape cartridges filled with liquid suspected to be cocaine, amounting to 9,420ml, where the stash was found in the rear passenger seat area," he told reporters here today. The total street value of the drugs is estimated at RM7.29 million and is enough to supply nearly 5,000 addicts. The syndicate is believed to have been operating since March this year, using rented condominiums around the capital as packaging hubs before distributing the cocaine-laced vape liquids to international markets. The cocaine had been fully processed and was ready for distribution before the suspects were detained.
New Straits Times
23-06-2025
- New Straits Times
Cocaine vape syndicate busted in Ampang Jaya, RM7.29mil drugs seized
KUALA LUMPUR: Police have crippled the country's first-known cocaine vape distribution syndicate following the arrest of four men, including three Singaporean, in Ampang Jaya last week. Federal police Narcotics Criminal Investigation Department (NCID) acting director Datuk Mat Zani @ Mohd Salahuddin Che Ali said the arrests, carried out on June 19, following intelligence received on their activities. He said the first suspect, a 57-year-old local, was detained along with two Singaporeans, aged 46 and 25, in a Toyota Vellfire parked at the exit lane of a hotel in Ampang Jaya. "A fourth suspect, a 31-year-old Singaporean, was nabbed shortly after at the lobby of the same hotel. "A search of the vehicle led to the discovery of 10 boxes containing 4,958 vape cartridges filled with liquid suspected to be cocaine, amounting to 9,420ml where the stash was found in the rear passenger area," he told reporters here today. Mat Zani said the total street value of the drugs is estimated at RM7.29 million and is enough to endanger nearly 5,000 users. He said the syndicate is believed to have been operating since March this year, using rented condominiums around the capital as packaging hubs before distributing the cocaine-laced vape liquids to international markets. He also said that the cocaine had been fully processed and was ready for distribution before the suspects were intercepted. "We believe the syndicate had planned to use Malaysia as a transit hub, with drugs possibly smuggled in by land routes from the south. "This is a new and dangerous trend. Cocaine is extremely difficult to obtain in Southeast Asia due to its high price and limited demand. It is usually trafficked only for the elite class and for export. "Each vape cartridge was estimated to be worth RM1,500 on the international market and could deliver up to 100 inhalations," he said. As such, he said, the case is being investigated under Section 39B of the Dangerous Drugs Act 1952, which carries the mandatory death penalty or life imprisonment with whipping upon conviction. All suspects have been remanded for seven days from June 20 to 26 to assist investigations. He also said preliminary urine tests found only the fourth suspect positive for ketamine. "Background checks also showed the first suspect has a record of two crime-related offences involving abetment and theft. "The second suspect has a past drug trafficking conviction in Singapore, while the remaining two have no records. "We also took action under the Dangerous Drugs (Forfeiture of Property) Act 1988, seizing assets worth RM2,975, including a beaded bracelet adorned with two dragon charms and a gold-coloured sycee," he said.
