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Chief Commissioner of the Malaysian Anti-Corruption Commission: The Anti-Corruption Commission has discovered the use of new media for money launderi

Chief Commissioner of the Malaysian Anti-Corruption Commission: The Anti-Corruption Commission has discovered the use of new media for money launderi

CointimeCointime2023/10/23 00:03
By:Cointime

Dato' Sri Azam Baki, the Chief Commissioner of the Malaysian Anti-Corruption Commission, pointed out that donating to charities, hiding wealth through agents and political funding, has been identified as one of the increasingly rampant money laundering methods in the country. The Anti-Corruption Commission has also discovered new mediums for money laundering, including the use of cryptocurrencies, underground transactions, cross-border financial institutions, and offshore financial services. The complexity of money laundering methods has made it more difficult and challenging for law enforcement agencies to recover funds.

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